Four hospitals have received 2014 Revenue Cycle Solutions Awards from The Advisory Board Company.
The awards reflect each organization's leadership in improving financial sustainability and financial performance. Here are the hospitals that received recognition this year.
1. Baptist Beaumont (Texas) Hospital, a member of Beaumont-based Baptist Hospitals of Southeast Texas, increased its revenue by $8.2 million through a clinical documentation improvement program.
2. IU Health Goshen (Ind.) Hospital, a Medicare Shared Savings Program accountable care organization serving more than 6,000 uninsured patients annually, reviewed every patient household for charity eligibility under a presumptive eligibility policy as part of an initiative to make patient obligation more transparent at the onset of care. The hospital reduced bad debt, improved patient billing efficiency and increased community benefit, according to The Advisory Board.
3. Mississippi Baptist Medical Center in Jackson improved ICD-9 coding accuracy as part of its preparations for ICD-10, engaging staff and saving both time and money.
4. Springhill Medical Center in Mobile, Ala., launched an initiative to link all revenue cycle components through one database to allow frontline staff to look up patient responsibility, charity eligibility and payment history at the time of care. The hospital also implemented online bill payment. Consequently, point-of-service collection increased by $6.1 million over four years.