It can be all-consuming for medical practices and even medical groups to just run their businesses. Time for process improvement, contract management and more can be scarce. Furthermore, merger and acquisition activity in the healthcare industry is booming. Physicians and smaller medical practices are being consolidated into larger groups as they are looking to lower the costs and increase profit margins. We will help your medical practice navigate the challenges of ongoing healthcare management and entering into collaborative arrangements with cost-efficient revenue cycle healthcare solutions.
Hospitals must keep pace with a constantly changing environment. Regulatory changes that negatively affect cash flow require healthcare organizations to do more with less. Effective outside assessment of all areas of revenue cycle management can be vital to your financial success! Affordable healthcare consulting is the answer. We will help your healthcare revenue cycle navigate the challenges of ongoing healthcare management and entering into collaborative arrangements with cost-efficient solutions.
Affordable revenue cycle management healthcare consulting is the answer.
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, revenue cycle management and provide expertise in growth and change management.
The business office had to identify the credit balances that needed to be refunded vs. the accounts that required a financial adjustment. Sunlit Cove Healthcare consultants remained on-site for continuous follow-up and management training to ensure the tracking review was monitored daily. The credit balances met compliance standards within 120 days of the implementation of the new process and tracking system.
Sunlit Cove Healthcare consultants interviewed and hired all staff, developed, 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 consultants for nine months until the right candidate was identified and hired.
The business office that was not posting as much as 30% of the payments received on a monthly basis was able achieved 100% compliance within the first 30 days of Sunlit Cove Healthcare's team new process implementation.
According to The Eighth Annual Trends in Healthcare Payments Report:
73% of providers report that it takes them one month or longer to collect from patients. On the other hand, 80% of consumers report they pay their bill within three weeks.