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Resolute Financial Metrics Monitoring Process

Resolute Financial Metrics Monitoring Process. September 11, 2014. Introductions. Jessica Janota – OCHIN Revenue Cycle Technical Lead Melinda Boyum – Epic Customer Finance. AR Metrics Monitoring Process. Work with you to monitor key A/R metrics using a standard graph package reporting tool

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Resolute Financial Metrics Monitoring Process

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  1. Resolute Financial Metrics Monitoring Process September 11, 2014

  2. Introductions Jessica Janota – OCHIN Revenue Cycle Technical Lead Melinda Boyum – Epic Customer Finance

  3. AR Metrics Monitoring Process Work with you to monitor key A/R metrics using a standard graph package reporting tool Analyze data and identify trends Allows you the ability to benchmark against other OCHIN customers

  4. History of the Metrics Monitoring Process • Program started in 2003 • Supplement to Epic application & Clarity reports • Standard process used for all new Epic customers

  5. Purpose of the Metrics Monitoring Process • Communication between Billing Operations and OCHIN • Identify areas that need attention • Monitor progress toward target A/R metrics • Tool that facilitates in the process

  6. Establish Target Metrics • Suggested target metric sources • Pre-defined A/R goals per organization • Legacy data (pre-OCHIN Epic) • MGMA standards • OCHIN membership avgs. • Key metrics for comparison • Days in AR • % Denials • % of AR over 90 days

  7. Financial Monitoring Process Establish Target Metrics Regular Review of Graph Package Identify Issues & Opportunities

  8. Features of the Graph Package • A tool used to monitor the high-level financial/AR metrics • Compares against baselines and/or targets • Trends all areas of the revenue cycle

  9. Graph Package Demo

  10. A/R Metric Monitoring - Keys to Success • Executive Involvement • Establish Ownership & Accountability • Focus on best practices • Strong Site Specialist & Billing Manager training • Establish accurate baselines or targets • Measure, Monitor & Act • Define an escalation path & communication channel for issues • Internal • OCHIN

  11. Ongoing Maintenance Readily available with minimal setup and weekly upkeep Comprehensive A/R reporting tool to assist in identifying key areas for improvement – workflow and/or configuration Use during recurring Revenue Cycle meetings with OCHIN account owner Provides an apples-to-apples comparison of your organization to others on OCHIN Epic

  12. Next Steps • Contact your OCHIN representative for further details and implementation: • Installing Members – Project Manager • Maintenance Members – Billing/Claims Account Owner • Begin weekly process to build Rev Man each week • Identify owner at your site • Establish targets • Develop process for regular review and determine distribution lists for process follow-up

  13. Questions?

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