Dramatic Revenue Growth with Patient Encounter Management
Think 99.9% patient registration accuracy is an impressive number? We do, too. But the revenue potential that kind of error-proofing delivers is even more important—like, $25 million important. Keep reading to get the bottom-line facts…
Where Are Hospitals Losing Money?
You already know the answer. Uncompensated care for self-pay and uninsured patients. Medicare disallowances and underpayments, particularly for outpatient services. Increased regulatory, licensing, and accreditation costs. These are complex obstacles to healthcare revenue. And unfortunately, the list continues to grow.
But not all hospital losses are uncontrollable. Large shares of lost revenue can be attributed to administration errors and insufficient denial management. Too much downtime. Wasted resources. Inefficient scheduling and appointment oversight… Economically coordinating all the moving parts in a hospital or health system is one of today’s most challenging efforts.
How Much Do Patient Encounter Administration Errors Cost?
HBI Academy research shows 30 to 40% of claims denials are caused by registration errors, representing as much as 0.5% in lost revenues. With a return mail rate of 10 to 15%, the average hospital pays thousands to correct patient addresses, too, while watching accounts age or even turn into bad debt. Quality assurance tools are needed to ensure the appropriate steps are taken to avoid these underpayments, undeliverables, and outright denials.
The Simple Way to Significantly Increase Healthcare Revenue
It’s time to insist on greater accuracy throughout your patient encounters. ActiveDEFENDER is a new tool for managing encounter accuracy and reimbursement, by extension. It goes beyond standard registration QA to continuously monitor all data entries throughout the patient experience. Unlike traditional back-end, exception-oriented processes, ActiveDEFENDER takes a proactive approach—embedding issue detection, assignment, and resolution into the daily workflow of all revenue cycle associates. Learn more about ActiveDEFENDER and other simple revenue growth solutions:
- Watch the ActiveDEFENDER webinar, to discover patient accuracy in action.
- Read the ActiveDEFENDER case study, which yielded $25 million in savings.
- Get more product facts on ActiveDEFENDER, the patient encounter management solution.
- COMING SOON: See how ActiveDEFENDER works, in our upcoming video demonstration!