The scope of the revenue cycle begins with patient access and registration, proceeds through charge posting and billing of all claims, and culminates in cash received and the denial process. Colaborate provides end-to-end revenue cycle performance improvement solutions designed to accelerate cash flow immediately and improve the bottom line. Our firm specializes in reducing accounts receivable, enhancing net revenue, and redesigning business processes in the revenue cycle. We work with management to identify and implement solutions that provide measurable and sustainable results.
Our clients benefit from:
- Improved cash acceleration
- Increased net revenue realization
- Improved relations with key vendors
- Business process redesign that decreases the cost of collection
- Long-term system-wide improvements
Billing & Coding Assistance
Today, even the best performing laboratories are leaving revenue on the table due to billing and coding issues. Colaborate experts have identified frequently missed opportunities in our clients' laboratory billing and coding systems, and assisted organizations in capturing these opportunities.
The dollar amounts laboratory procedures represent - especially compared to other hospital procedures - compounded with onerous regulatory and payment requirements, laboratory billing and collections systems, need improvement almost universally and sometimes require outsourcing to laboratory billing specialists.
Colaborate is experienced in diagnosing billing and coding issues and will formulate the strategies necessary to rectify any problems and facilitate optimal efficiency of the revenue cycle process.
Process Flow Analysis
Having an insufficient process flow can cripple a business to the point of lost revenue in the thousands. Colaborate can assist in performing a process flow analysis, and, using TQM, Lean, and/or Six Sigma techniques, a process flow will be designed to suit your organization's needs, keeping in mind compliance guidelines and regulations.