We enable decision-makers to identify and modify practices and organizational behaviors to optimize financial performance.
CentraMed RMEval services provides a comprehensive summarization of enterprise wide “Cost to Cash” revenue improvement opportunities, as well as the required human resource composite needed to create an in-house team and solutions that provide transactional, analytical and root cause corrections
The CentraMed RMEval delivers fact-based results detailing spend, charge capture, coding, documentation and payment improvement targets. This will assist you in achieving the full economic value of each patient claim you process. Average projected results yield between 2-3% to your total bottom line.
Using CentraMed’s proprietary assessment guide created from over a century of combined healthcare executive leadership experience, RMEval brings all key leadership members into the assessment process through interview and analyses of all spend, charge, code, documentation, and payment tools.
The process starts with an introductory session with the key stakeholders to review the 2-3 day evaluation requirements and to outline any special targets or requests from your leadership team. Prior to the onsite visit, several remote activities occur such as the review and discussion of charge tools and documents, specific facilities information systems and completion of focused questionnaires regarding materials management, charge structure, coding and documentation policy and other relevant topics.
The onsite visit is an intense 2-3 day engagement where CentraMed’s team of highly experienced professionals meets with department leaders to review and discuss the entire spectrum of patient finance flow within each department. Based on the requests of the key stakeholders, accounts and specific transactions may be reviewed in conjunction with process flow and overall financial results.
Once the pre and on-site visit are complete, the summarization report which details specific revenue capture and improvement opportunities will be presented to key executive staff for review and discussion. These are quantified based on payor mix, revenue and usage, and other existing reporting systems in your facility; additionally, you will be provided the blueprint for the creation of a discretely focused team whose sole function is to realize the results that are outlined in the report.
CentraMed’s RMEval is focused solely on improving your bottom line through real and achievable goals. CentraMed also provides all of the support information and detail to assist you in the construction of an internal team to realize these goals. CentraMed’s long-term history illustrates that revenue management and integrity teams are often responsible for the entire bottom line.