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TransCend Healthcare’s Revenue Cycle Assessment identifies operational improvements that will enhance financial performance related to cash collections, bad debt reduction, and days in  accounts receivable. TransCend Healthcare's approach involves obtaining  an understanding of the current state of the revenue cycle processes, identifying areas for potential improvement, and providing recommendations/high-level action steps required to obtain the identified improvements.  In addition, we estimate the potential financial impact of implementing proposed changes.

TransCend Healthcare utilizes a two-tiered approach to assess current operations and identify opportunities for financial improvement.

The first tier is comprised of identifying and obtaining financial performance data from the facility and comparing results to “Best of Practice” indicators or performance benchmarking. Information typically reviewed includes revenue, accounts receivable, cash collections, write-offs, and other key indicators. This information is used to quantify the financial benefits of reaching “Best of Practice” standards and to develop the necessary steps to implement a structure that allows for reaching these levels. 

The second tier is comprised of reviewing the existing business services operations for efficiency and effectiveness related to revenue cycle. As part of this process, TransCend Healthcare will interview and observe, as necessary, personnel performing the following revenue cycle functions: charge review and entry, primary and secondary billing and rebilling, third party account followup, self pay followup and posting of payment and adjustment transactions. 

“Best of Practice” performance involves all critical components of the revenue cycle having clearly documented and communicated operating procedures as well as concise volume, productivity and quality management monitoring tools.  TransCend Healthcare has an unparalleled understanding of the intricacies of developing and implementing “Best of Practice” revenue cycle workflows, policies and procedures, productivity measurements, quality management processes and enhanced technology to improve cash flow. We specialize in all facets of development, re-design, and implementation of improved processes for the following areas of the revenue cycle:

Work Flow Process
Re-Design and Engineering
SCHEDULING
PRE-ADMITTING/ PRE-REGISTRATION
ADMITTING/ REGISTRATION
FINANCIAL COUNSELING
INSURANCE VERIFICATION
MEDICAL RECORDS
PRE-BILLING/ CLAIM EDITING
BILLING
FOLLOW-UP/ COLLECTIONS
PRE-COLLECTIONS
BAD-DEBT MANAGEMENT