Integration and standardization of financial information for 13 healthcare providers allowed for increased efficiency, greater visibility and a realization of cash.

The Problem

Tasked with improving financial performance while ensuring patient satisfaction, Aurora Health Care faced numerous obstacles even after implementing a central patient accounting system due to fragmented processes and inconsistent peripheral data sources. With gradually increasing AR days and increased pressure to expedite payments, it was critical to have the ability to access and analyze key financial data to drive performance.

The Solution

Aurora selected Revenue Cycle Analytics solution to address these integration difficulties and assist in achieving aggressive revenue cycle financial and performance goals. Immediately after implementation Aurora realized a return on investment by identifying previously misallocated accounts and has sustained long-term results including increased revenue, turnover of denials, process efficiencies and improved AR days.

The Results

• $1.2M found in misallocated revenue
• 36% AR reduction in first 18 months
• Integration and standardization of financial information for 13 healthcare providers
• Increased efficiency (reallocation of 3 FTEs)
• Greater visibility into performance
• Proactive, exception reporting
• Reduced reporting cycle times