The business office for a 259-bed hospital with 47 offsite locations was not posting as much as 30% of the payments received on a monthly basis. The issues included lack of any daily payment posting tracking and reconciliation with the bank statements, in addition to untimely deposits from their offsite locations.
Sunlit Cove Healthcare consultants created tracking logs, daily accountability and identified the gaps in the payment posting process and provided simple solutions for the manager’s daily review. The hospital was able to achieve 100% compliance within the first 30 days of the new Sunlit Cove Healthcare Team’s process implementation.
A business office for 23 hospital system had patient account credit balances out of compliance by over 30% of their required goal.
Credit balances on patient accounts were often caused by issues with payment posting and contract modeling. It was necessary for the business office to identify the credit balances that needed to be refunded vs. the accounts that required a financial adjustment. Not making credit balances a priority could result in a CFO accruing incorrect liability on the hospital’s monthly financial statements.
Development of daily tracking reports was quickly put in place to begin identifying the issues. Their current process did not provide the appropriate staff or any consistent process. The department was then trained by Sunlit Cove Healthcare consultants to bring their processes in line with corporate policy and procedures.
The Sunlit Cove Healthcare team remained on-site for continuous follow-up and management training, to ensure the tracking review was monitored daily. The 23 hospital system credit balances met compliance standards within 120 days of the implementation of the new process and tracking system.
The client was at the beginning of offering a new experimental ala carte collection and denial management services. The director of the project abruptly left when the project was in its infancy stage.
Sunlit Cove Healthcare consultants interviewed and hired the full staff, and also developed and completed all policies and procedures in addition to leading all training sessions for the new employees. The department was continually run by Sunlit Cove Healthcare team for nine months until the right director was identified and hired.
This department continues to be operational today (4 years later) and is part of their new marketing and acquisition strategy.
Our focus is to help your business grow and run smoothly. We understand the challenges faced with the claims processing and recovery environment. Sunlit Cove Healthcare Consultants provide professional subjects matter experts in the healthcare industry to enhance your business. Our consulting services are available to assist with your day-to-day operations and provide expertise in growth and change management.