News Feature | November 6, 2014

Healthcare System Increases Cash Receipts $380,000 Per Month With RCM Solution

By Karla Paris

Healthcare System Increases Cash Receipts $380,000 Per Month With RCM Solution

Improved revenue cycle and development of dashboard reporting system increases cash flow and reduces both AR days and outstanding AR balance for Arizona Regional Health Care Corporation.

Health Networks face daunting challenges as they continue to expand both in number of facilities and market reach. One major challenge is the issue of a variety of disparate health information, patient accounting, and billing systems across the enterprise.

What a difference a little more than a year has made for Tuba City Regional Health Care Corporation (TCRHCC) of Tuba City, Arizona that has tackled its accounting and billing challenges head on.

In May of 2013, Stockell Healthcare Systems reached an agreement with TCRHCC to provide the organization with a full suite of business office services including Billing and Collections, Revenue Recognition, Coding, Electronic Forms Capture, Reports, and Decision Support.

TCRHCC uses InsightCS Patient Accounting and Billing solution which provides a suite of accounting and collections process tools that are engineered to help TCRHCC maintain accurate control of financial data while allowing the flexibility to streamline user tasks. In a press release, it was announced that TCRHCC as of September 30, 2014 versus the same date in 2013 has achieved:

  • cash receipts increase of more than $380,000 per month
  • decreased AR Days amounting to more than 48 percent
  • outstanding AR balances were decreased by more than 45 percent

Key functional areas of InsightCS Patient Accounting and Billing that TCRHCC has taken advantage of include:

  • inpatient and outpatient billing
  • professional (UB04) and hospital (1500) billing
  • claims scrubbing and processing
  • collections and payments
  • contracts and reimbursements
  • remittance advice entry
  • denial management
  • bad debt selection and review

TCRHCC, the Joint Commission accredited health center, operates as a private nonprofit healthcare organization and provides services to a 6,000 square mile area, serving as a referral center for the western part of the Navajo and Hopi Reservations. Services provided to the community include comprehensive inpatient/outpatient emergency services; dental and ophthalmology services; orthopedics; OB/GYN; oral surgery; eye surgery; and urological procedures.

SOURCE: PR Newswire