Few healthcare technology implementations are as expensive, complex, and involve as many stakeholders as an electronic health record (EHR). Many hospitals and health systems naturally focus on the clinical functionality of a new EHR system, placing revenue cycle management (RCM) lower on the list of priorities.
A new white paper from Availity, Revenue-Cycle Best Practices During an Epic Installation, makes the case that RCM should be updated and tested at the earliest stages of installation and implementation of a new EHR system, because new EHRs frequently cause changes in charge capture and billing processes.
The lines between clinical and financial information are blurring, and one significant measure of a successful go-live is a provider’s ability to effectively manage payments and claims throughout implementation. Availity has helped thousands of hospitals and physician practices protect their revenue cycle during an EHR conversion, including dozens of customers transitioning to Epic. By focusing on RCM first, hospitals and health systems can establish a performance baseline for claims and revenue management.
Revenue-Cycle Best Practices During an Epic Installation identifies critical RCM best practices during Epic EHR installations for two Availity clients—Mercy Medical Center in Baltimore, MD, and UNC Health Care, in Chapel Hill, NC.
Mercy realized tremendous success with their claims submission upon go-live. With the engagement of their Availity client account manager and client services team, they protected their revenue stream and helped keep operational performance high. Processing about 80,000 claims per month, Mercy’s clean-claim rate was 95 percent at go-live and within thirty days climbed to 98 percent.
Like Mercy, UNC Health Care went live with their Epic installation on time and with no negative impact to their revenue cycle. By being well-organized and well-prepared, their EHR initiative has stayed on track and is achieving success. Leveraging Availity’s integration and experience with Epic further simplified the transition, heading off troublesome billing issues and keeping their cash flow healthy.
“The cost and complexity of an EHR installation can be daunting for any hospital,” said Russ Thomas, CEO of Availity. “By addressing the revenue cycle prior to implementation and as part of the EHR workflow, hospitals and health systems can seamlessly administer payments and claims and ensure they maintain their financial performance during the transition to the Epic system.”
Download your copy of Revenue-Cycle Best Practices During an Epic Installation.