"If you assist us with receivables resolution support, what is the monitoring process to confirm we are on target and maximizing value?"
We initiate our work by conducting a review of the receivables to be resolved. This review allows us to project cash flow performance based on the type and age of the receivable pool. This process gives us and the client clearly defined performance goals. We then implement trended weekly reporting to monitor key performance indicators as the project proceeds. We meet with our clients on a routine basis to review the weekly trended reporting and identify/resolve issues as they are identified.
"What are the most frequently outsourced services?"
Clients most frequently approach us for outsourcing assistance in the areas of third party and self pay receivable resolution assistance. We have also placed TransCend Healthcare personnel on-site to assist clients with billing, receivables resolution support and to assist with special projects.
"We have never outsourced Self Pay receivables before. Tell us about your technology capabilities."
We have the most modern/updated version of the CUBS system including advanced capability predictive dialing (for both outbound calls and inbound call management). We establish a network connection and import information into CUBS. We then assign work lists to personnel who have been designated to work/resolve a specific clients' portfolio of accounts. We utilize "best of practice" daily and weekly volume and productivity management reporting to reflect the efforts of our collection team.
"In our experience, benchmarks are vital to ensure we are doing all we can to manage receivables. Tell me about your benchmark data and how you use it?"
TransCend Healthcare uses two primary types of benchmark data. We use industry standard benchmarks as updated on a quarterly basis from several different sources to understand general industry trends. We have also developed a methodology to identify capability benchmarks (SM) for our clients. Capability benchmarks (SM) define the specific financial performance a client could expect to achieve in their specific/unique environment using best of practice work-lows, policies and procedures.
"What is unique about TransCend Healthcare?"
TransCend Healthcare offers clients both revenue cycle redesign consulting assistance as well as account resolution services (including both offsite and onsite solutions). TransCend Healthcare partners and personnel specialize exclusively in assisting healthcare facilities to improve financial performance. TransCend Healthcare offers a proprietary Automated Claims Status Service that will assist in immediate increased cash flow. TransCend Healthcare offers competitive pricing and has experienced healthcare professionals to assist you in meeting your goals. Healthcare is our ONLY Business!
"We are seeking a firm to help us redesign our revenue cycle. We are interested in starting with the patient access areas. Is this one of your PBO competencies?"
We specialize in designing and implementing best of practice workflows, volume/productivity and quality management processes for the entire revenue cycle. We believe the revenue cycle starts with the initial patient contact point. This point is most often the scheduling process. A best of practice scheduling process includes seamless pre-registration processing and delivery of pre-procedure instructions. Pre-registered patients are also explained the amount which will be due from them, and this is collected prior to the patient arriving for pre-testing.
"Our hospital is part of a three-facility system. Could you respond to our needs as a corporation and would the work processes be identical for all three facilities?"
We are highly experienced in working with multi-facility systems. We would standardize best of practice processes where ever possible (for example with management reporting). We would incorporate institution specific procedures/processes where appropriate to gain resource and timing efficiencies.
"Staffing has become an issue for us and we are considering outsourcing. What types of assistance does TransCend Healthcare provide and is there potential cost savings to be recognized?"
TransCend Healthcare would work with your facility to determine if the best approach is to use our off-site account resolution group, or to have TransCend Healthcare personnel perform assistance on-site. We have assisted clients using both approaches and have been able to recognize resource/cost efficiencies using either or both models.
TransCend Healthcare offers many hospital revenue cycle services, but we have one mission
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Increase your cash ... now!
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