Collection Amounts /Key areas of impact:
- Accordias provided a CDM audit resulting in a $2.7M lift, and elimination of compliance issues.
- Accordias collected $4.1M in Denials that formerly were not collected (and eventually written-off).
-Accordias implemented an stand-alone Denials tool for the client.
-Accordias provided education and training to clinical staff to reduced denials.
-Accordias created Denials Policy and Procedures
-Accordias created a denials resolution tool
- Accordias implemented a Revenue Integrity process that resulted in $22M in Cash Acceleration.
-Reduced ave. times claims were held in the billing system from 270 days to < 3 days.
-Achieved cash acceleration of $11.7M in first six months, and $19M by end of year
-Created the Billing Integrity Committee which acts as a forum for the resolution of coding specific (held) claims, compliance related billing issues, clinical/up-front process development to support accelerated claims processing.
-Developed processes to reduce inappropriate recoding by HIM, as well as routing of claims related issues to clinical department leaders. Improved workflow process, and reduced the number of touches required for billing issue resolution
The total impact to the client was $7.5M in true cash (direct to the P&L). All of these results were achieved over a 8 mo. Period.