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Health Care Reform: The Impact on A/R Performance

Health Care Reform: The Impact on A/R Performance. August 29, 2012. Healthcare Reform: Summary of Changes . 1. 3. 4. Measuring Outcomes. 5. Crossroad – Buy or Build?. Does it Matter to You … In-house vs. Partnering?. Agenda. 6. 7. How Does it Work?. Things to Look For. 2.

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Health Care Reform: The Impact on A/R Performance

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  1. Health Care Reform: The Impact on A/R Performance August 29, 2012

  2. Healthcare Reform: Summary of Changes 1 3 4 Measuring Outcomes 5 Crossroad – Buy or Build? Does it Matter to You … In-house vs. Partnering? Agenda 6 7 How Does it Work? Things to Look For 2 Typical Challenges www.hbcs.org

  3. Summary of Changes Largest overhaul since ‘Care and ‘Caid in 1965 Law calls for: • Insurance Industry reform • Mandates coverage for most Americans • Creates more insurance options • Expands Medicaid Health Care Reform Source: “The Essentials of Healthcare Reform, Sarah Densmoore, www.hbcs.org

  4. What does this mean to you? Industry: • Stress from the unknown • Increased burden on patient • Higher deductibles / co-pays Financial: • Increasing cost to collect • Cost shift to front-end focus • Costly technology Business Office: • Need to do more with less • Increased Turnover • Costly training & re-training • Reporting, Processes Technology: • Multiple systems / platforms • System conversions • Data collection / consolidation Typical Challenges… www.hbcs.org

  5. The patient is experiencing… Shift to high-deductible consumer directed health plan Increased out-of-pocket maximums Increased share of premium costs Cutting back / delaying medical care Despite Health Care Reform www.hbcs.org

  6. Cumulative Increases in Health Insurance Premiums, Workers’ Contributions to Premiums, Inflation, and Workers’ Earnings, 2000-2010 • Every year since 2000: • Premiums increased between 3 - 13% • Earnings increased within 2 - 4% range Notes: Health insurance premiums and worker contributions are for family premiums based on a family of four. Source: Kaiser/HRET Survey of Employer-Sponsored Health Benefits, 1999-2011. Bureau of Labor Statistics, Consumer Price Index, U.S. City Average of Annual Inflation (April to April), 1999-2011. Bureau of Labor Statistics, Seasonally Adjusted Data from the Current Employment Statistics Survey, 1999-2011 (April to April). www.hbcs.org

  7. Cumulative Percent Change in National Health Expenditures, by Selected Sources of Funds, 2000-2010 • Rise in out-of-pocket changing A/R: • Increased self-pay • Increased balance after insurance Source: Kaiser Family Foundation calculations using NHE data from Centers for Medicare and Medicaid Services, Office of the Actuary, National Health Statistics Group, at http://www.cms.hhs.gov/NationalHealthExpendData/ . Notes: This figure omits national health spending that belongs in the categories of Other Public Insurance Programs, Other Third Party Payers and Programs, Public Health Activity, and Investment, which together represent about 20% of total national health spending in 2010. Medicare and Medicaid were enacted in 1965; by January 1970, all states but two were participating in Medicaid. www.hbcs.org

  8. Are you measuring outcomes? www.hbcs.org www.hbcs.org 8

  9. Most are at a Crossroad: Buy or Build? Cost to Collect Opportunity costs: what is going untouched? Staffing, Training, Turnover, Re-training Tools: Charity Care / FAP / Scoring / Segmenting Workflow technology to increase efficiencies Reporting requirements Factors to Consider… www.hbcs.org

  10. Taking the Right Approach in Outsourcing August 2012 – hfm Magazine Most are at a Crossroad: Buy or Build? Strategies behind outsourcing: • Seizing improvement opportunities • Remedying staffing inefficiencies • Servicing noncore areas of hospital operations • Accessing the latest clinical & business technologies • Taking advantage of the benefits of outsourcing specialization • Seizing investment opportunities • Finding the right partner: • Seamless integration • Deep & current experience • Broad capacity • Patient-centered orientation • Cost considerations • The right monitoring tools • Running a pilot • Systematic monitoring www.hbcs.org

  11. Collaborate together on Health Care Reform challenges • Share the risk – must be a balanced equation Acquire technology “off balance sheet” • IVR, Web Portal, Scoring, Workflow Tools Extend your current business office resources: • Manage the staffing flux – allow partner to become overflow for aged accounts Work together to: • Improve cash collections • Improve reporting • Manage costs To “Buy” is not for all, but for some… www.hbcs.org

  12. Does it matter to you? If in-house… Revenue Cycle Management:Do you have core competency?… Self pay billing and follow-up; insurance billing and follow-up Industry Experience:Is in-house better for you vs a partner exclusively in healthcare? Charges Processed:Is the amount of global $ handled by a partner an important metric or do you just care about your AR? Performance-Based Pricing: Is the staff “just doing their job” good enough for you? Tenured Staff:What is average tenure of your RCM employees? Are they skills-based? Customer Service: What is incentive to collect (so as to enhance your hospital’s Community Benefit)? … quantity ($); quality (compassionate, sensitive/excellent record of patient satisfaction) or BOTH? Technology: What does it look like? Is IT developed in-house and innovative? Is there full integration with HIS systems? Are you ready for a conversion? Updated propensity to pay and scoring tools? Communications to Patients: What are strategies around unified, consistent patient outreach? … inbound and outbound calls, IVR, statements, web portal www.hbcs.org

  13. Does it matter to you? If a partner… Revenue Cycle Management:Understand the core nature of the partner’s business…are they: Self pay billing and follow-up; insurance billing and follow-up; full business office outsourcing, transitional business office staffing, bad debt, etc.? Industry Experience:Are they exclusively in healthcare? Charges Processed:Ask how much $X billion handled annually. Performance-Based Pricing: Will partner go at-risk and “put their money where their mouth is”? Tenured Staff:Are they US based? What is average tenure of RCM employees? Are they skills-based? Customer Service: What is incentive to collect (so as to enhance your hospital’s Community Benefit)? … quantity ($); quality (compassionate, sensitive/excellent record of patient satisfaction) or BOTH? Technology: What does it look like? Is IT developed in-house and innovative? Is there full integration with HIS systems? Communications to Patients: What are strategies around unified, consistent patient outreach? … inbound and outbound calls, IVR, statements, web portal www.hbcs.org

  14. How does it work? You with Partner Charge Capture & Entry Insurance Follow-up Registration & Pos Cash Collections Claim Editing Submission Patient Billing & Collections Hospital Responsibilities Partner Responsibilities Create Blended Model Financial Counseling Claim Adjudication Insurance Eligibility Verification Denial & Appeals Management Reporting & Analysis Pre-reg & Pre-cert Patient Contact Center Scheduling Contract Management www.hbcs.org

  15. Things to look for in Partner- Patient Contact Center • Hospital-specific toll-free number • 24 / 7 account access (web portal) • Automated call distribution system • Multi-Lingual patient service representatives • Blended predictive dialing/skills based routing • Recorded calls for training and quality assurance • Contact center reporting • Interactive Voice Response (IVR) • Real-time, on-line credit card processing • Scoring technology (P2P) & segmenting accounts results in increased call resolution and identifying Charity Care Increased collections & Improved patient satisfaction! MUST: Extended Hours Inbound and Outbound Patient Contact Center www.hbcs.org

  16. Things to look for in Partner - Insurance Follow-up Account follow-up workflow engine PROVIDER DATA Workflow Engine (Companionate Accounts) Real-time Monitoring Automated Follow-up Dashboard Reporting www.hbcs.org

  17. Target Goal After thorough discovery and research, improve your bottom line by leveraging technical and human resources through internal or external services, resulting in increased business office stability and accelerated and increased revenues. www.hbcs.org

  18. Thank You! Questions? Jeff Porter 847-550-0480 porterj@hbcs.org

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