Overview

Transforming revenue cycle management

With constant shifts in regulations, reimbursement models and administrative costs, it can be hard for healthcare organizations to make sustainable improvements to their revenue cycle management (RCM). Rather than relying on a series of short-term fixes, organizations need well-honed strategies to help them build revenue cycle management processes that are more resilient and adaptable.

By investing in a system that encourages perpetual innovation, organizations can develop the healthy healthcare revenue cycle they need to support their long-term missions. Simpler® Consulting, an IBM company, has decades of experience providing revenue cycle management consulting services to help healthcare organizations improve their revenue cycle management practices. Using the Simpler Business System, our experts have helped health systems, hospitals and healthcare providers all over the world undergo revenue cycle transformations and build a culture of continuous improvement

Benefits

How organizations prosper with revenue cycle management transformation

Financial performance improvement

With Simpler, past clients have reduced denials write-offs by 50-90%, reduced accounts receivable days to less than 35 and improved collected revenue.

Sustainable RCM changes

Using the Simpler Business System, teams learn problem-solving strategies that help them preserve changes and find new ways to improve.

Operational optimization

The Simpler approach to revenue cycle management helps organizations connect information flows from patient care to all RCM processes and make the entire cycle more efficient.

Strong return on investment

Overall, Simpler has helped clients achieve over USD 4 billion in client-reported savings and an average return on investment of 10:1.

How it works

An end-to-end approach

Pursuing revenue cycle transformation (RCM) can be complex, and it’s often hard to know where to start. From patient billing and claims processing to accounts receivable and denials management, there are a lot of moving parts, and many organizations try a project-based approach that fixes one issue at a time.

As part of the revenue management cycle consulting from Simpler, clients receive a revenue cycle analysis and are given a true end-to-end view of their current healthcare revenue cycle. Experts from Simpler then provide strategies that could help improve the flow of information through common RCM areas like patient access, patient encounters and patient billing.

Along with the initial analysis, experienced consultants from Simpler provide coaching to healthcare executives to help leaders set priorities and develop an action plan for improvement. Simpler then brings the full RCM team on board to set goals, learn problem-solving strategies and identify how each person contributes to improving RCM. Explore how your organization could benefit from revenue cycle transformation.

Success stories

Higher savings

$5M

Workflow changes saved more than USD 5Mil the first year.

Reduced medicine waste

$900K

Reducing medicine waste saved more than USD 900,000.

Bigger ROI for imaging

$1M

Fine-tuning MRI scheduling processes led to a USD 1M ROI.

Learn the details of how Connecticut Children's Medical Center used lean strategies from Simpler to achieve these results.