Hospitals should analyze revenue cycle management data across payers, payer groupings and facilities, according to Eric Nilsson, chief technology officer of The SSI Group, a provider of RCM solutions and analytics.
Analyzing data this way gives hospitals a comparative view of like information rather than "data analysis in a vacuum," which may not be useful, Mr. Nilsson said.
This technique "helps providers understand where opportunity lies, especially when using specific key performance indicators for revenue cycle as objective benchmarks for operational and financial success," he said. "When trying to understand where the most valuable work is [or, potentially, the greatest risk to the organization], the best results come by starting from a level set background."
If you would like to share your RCM best practices, please email Kelly Gooch at kgooch@beckershealthcare.com to be featured in the "RCM tip of the day" series.
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