It is through the coordination of several disparate functions that an institution realizes optimal revenue cycle performance. Achieving benchmark outcomes requires careful planning in four key areas - structure, leadership, information technology and financial reporting. Whether the need is a turnaround of current operations; a conversion to a new information system platform; the addition of an EHR; the implementation of an MSO to provide services to loyal, independent physicians; or the decision to bring professional fee billing in-house or to outsource it; it is the combination of those four factors that will ultimately make, or break, the outcome.

The presentation will discuss in detail each of the four areas described above, beginning with a discussion on the most effective practice management infrastructure. The discussion will educate attendees on how to appropriately assign and monitor accountability, responsibility and outcomes. It will also identify how to strategically communicate, in collaboration with the health system, a consistently applied message to the community, including the topics of capital planning and growth planning.

The presentation will then elaborate on the need for leadership with deep industry knowledge over the entire revenue cycle, leading to a further discussion on best practice revenue cycle management. A question that is frequently asked is whether to centralize revenue cycle or decentralize it? A hybrid of the two is the best practice the appropriate division of tasks for centralization/decentralization will be discussed in detail. A significant aspect of this discussion will be the importance of the partnership between revenue cycle and physicians, including complete transparency and open communication, updated encounter forms, accountability at the physician level and consistent feedback.

The final topics, information technology and robust reporting, describe the need for an information system that is unique to physician practice management, with robust security at all levels to accommodate employed and loyal private physicians within one database, and with flexible reporting tools. It is vital for the physicians to be able to trust the data. Therefore, automated daily reports that create ownership of errors and enhanced accountability are required. In addition, sophisticated business intelligence that pulls from disparate systems to provide comprehensive robust dashboards in support of physician compensation model is also key to robust reporting capabilities.

Attendees will learn from the presentation that management of the revenue cycle is a rigorous, process-management venture, and that to succeed, they will need a strong management team in place, a high level of physician engagement, robust information technology and strong reporting tools.