CASE STUDY
Streamlining Revenue Cycle Management for a Growing Psychiatric Hospital
Background
A rapidly growing inpatient psychiatric hospital located in Baton Rouge, LA faced the critical need to enhance turnaround time and establish a scalable Revenue Cycle Management (RCM) workforce to accommodate its expansion.
Transition
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Software Customization
A rapidly growing inpatient psychiatric hospital located in Baton Rouge, LA faced the critical need to enhance turnaround time and establish a scalable Revenue Cycle Management (RCM) workforce to accommodate its expansion.
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Training and Workflow Optimization
Pre-transition training sessions were conducted at no additional cost to establish efficient workflows and billing specifications. This ensured a smooth transition into the new RCM system.
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Biweekly Review and Risk Mitigation
A structured review process was implemented, monitoring transition progress and identifying potential risks. This proactive approach enabled timely risk mitigation and adjustments.
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Capacity Expansion
Iris-Health effectively scaled its services alongside the hospital's growth, accommodating new services such as partial hospitalization (PHP) and intensive outpatient (IOP) services.
4x revenue
Iris-Health's flexible services aligned with the hospital's growth, resulting in a quadrupling of revenue.
24hrs
Claim filing turnaround time significantly improved, with claims now filed within 24 hours of receipt, enhancing revenue cycle efficiency.
No cost
The RCM transition was executed seamlessly, incurring no additional costs for the hospital.
Protocols
Detailed protocols were established, optimizing revenue generation and minimizing claim denials, leading to a more robust revenue cycle.
Conclusion
The successful collaboration between the psychiatric hospital and Iris-Health showcases the power of customized solutions and strategic partnerships in revolutionizing revenue cycle management. Through tailored software integration, comprehensive training, and a commitment to ongoing progress monitoring, the hospital experienced substantial growth while maintaining a streamlined and efficient revenue cycle.
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