Revenue cycle management
Kickstart and sustain your organization’s financial transformation with a trusted partner
Overview
Transforming revenue cycle management
With constant shifts in regulations, reimbursement models and administrative costs, it can be difficult for healthcare providers to make sustainable improvements to their revenue cycle management. Through a patient-centered approach to revenue cycle management that encourages perpetual innovation, IBM consultants can help hospitals and health systems develop the healthy revenue cycle necessary to support their long-term missions.
IBM Watson Health: A patient-centered approach to revenue cycle management (01:17)
Benefits
How revenue cycle management consulting can help
Boost financial performance
Clients report reducing denials write-offs by 50-90%, reducing accounts receivable days to less than 35, and improving collected revenue.
Realize a return on investment
Overall, clients report saving USD 4 billion and realizing an average return on investment of 10:1.
Gain operational efficiency
Optimize performance by facilitating data flow from care delivery to all revenue cycle management processes.
Sustain transformation
Equip your teams with problem-solving strategies that help preserve positive changes and identify opportunities for improvement.
How it works
Revenue cycle management services that deliver results
Our revenue cycle management consultants begin by giving healthcare providers a true end-to-end view of their healthcare revenue cycle. You’ll obtain insights to help improve the flow of information through key areas like patient access, patient encounters and patient billing.
Along with the initial analysis, our experienced consultants will provide coaching to help healthcare executives set priorities and create action plans for improvement. We’ll then work with your entire team to set goals, develop problem-solving strategies and identify how each member can contribute to improving revenue cycle management.
Success stories
Higher savings
$5M
Workflow changes saved more than USD 5 million the first year.
Reduced medicine waste
$900K
Reducing medicine waste saved more than USD 900,000.
Bigger ROI for imaging
$1M
Fine-tuning MRI scheduling processes led to a USD 1 million ROI.
See how Connecticut Children's Medical Center partnered with IBM revenue cycle management consulting to achieve these results.