Insights that can TRANSFORM your RCM billing team

Many healthcare organizations find it challenging to understand the intricacies of their revenue cycle business. For most, these intricacies are what really affects their bottom line.

If you had a way to look into your data, analyze it, and then profit from it, would that be helpful to you? The e5 Workflow team consumes an immense amount of data within RCM for clients. This data provides a window – a way to see the levers of your business. Looking through millions of lines of your RCM data and helping identify trends and prioritizes the work Flex team members perform to help you increase productivity and cashflow.

Some of the data points e5 uncovers are things you may already know about your business, but you didn’t realize the scope or degree that they might be impacting your bottom line. There may be other insights you may not have realized at all!

  • A detailed breakdown by claim status – this can give you an idea of what status all your claims are in from an overall financial impact perspective.
  • The number and dollar amount of Current Procedural Terminology (CPTs) or claims paid – this can show you where the bulk of your business is and how much you’re receiving on those CPTs or claims.
  • The amount paid by payor – this can show you where you’re getting the most payments from. This can also be broken down by CPTs as well, which can be very valuable in showing you a combination of what your most profitable CPTs are and how much you’re receiving for that CPT from each payor.
  • Average number of days to payment per payor – this can help you zoom in on those payors that are speedy and focus work toward them, while also identifying the slow payors that you might need to follow up with to improve time of payment.
  • Top denial codes or reasons – this can help you identify these reasons, so you can stay on top of training your team. This way, they’ll know the best processes to work these denials and knock them out faster in the future.

The e5 team runs this data through our complex software engine , creating an incredibly detailed model for you. This model provides information that shows exactly the next best claim for you to work, based on multiple factors, and balancing those factors all at the same time. This includes: the amount of revenue you could receive, the time it would take for you to work, any timely filing factors that could be an issue, etc. Every claim e5 provides to your billing team, and at every time they’re ready for a new claim, is exactly the next best claim to work – all based on the data you provided.

Your data fuels all of this. Your payors, your payment schedule, your numbers. With the help of e5 Workflow, this information is funnelled through our complex engine , giving you a customized and automated direction of what to do next. This also gives you a better, more in-depth understanding of your business, the knowledge of which claims to work next, and provides your business the financial boost you’ve been looking for.

Contact e5 Workflow today using the form below – let us show you how your data, matched with specific software can deliver a better way to work that reduces stress on you and your team, and is substantially more profitable.