Centralizing the Revenue Cycle Protects the Bottom Line
In addition to making it easier to collect from payers, Lyman says the preauthorization process allows Advocate to communicate better with patients around their financial responsibility, which increases satisfaction.
"The bottom line is we want a lifetime relationship with patients. We want them here for the long haul, so we are making sure there are no surprises for them with their billing. We try to do all that work upfront as best we can, and that way, hopefully, we will score well on things like patient satisfaction and patient experience."
By centralizing the collection of claims information, Lyman says Advocate can also operate "a very focused effort around using data to manage our patient accounts."
Lyman and his team access a daily flash report and a weekly operations report to analyze, among other areas, its commercial and managed care patient accounts.
"We make sure we are focused on what is going to drive the most benefit," Lyman says. "We go through an issues review process every week, and we use the denials reports and transaction reports to study in great detail where the true issues are… A lot of that work is an automated workflow, but I'm always looking at what the next steps are in getting that account resolved and paid."
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