Methodist Healthcare, the largest healthcare provider in the mid-south, partnered with Huron Healthcare to enhance revenue cycle manager performance and enhance a more proactive, accountable work culture. The engagement produced significant results, including:
- A recurring income statement improvement of $24.3 million.
- A one-time incremental cash of $10 million through A/R liquidation.
- Increasing self-pay/high-liability patients screened in-house by 39%.
- Increasing monthly conversions from self-pay to sponsorship by 128%.
- Reducing billing work-in-process by $79.9 million.
- A 10.3% improvement of the Case Mix Index at University Hospital from 1.796 to 1.980 through improved physician documentation.
“The project exceeded our goals of improving overall collection rates and reducing A/R balances,” said Chris McLean, System CFO, EVP of Finance at Methodist Healthcare. “And the improvements have been maintained since the project ended. Huron produces the results they promise.”
“What sets Huron apart is the investment they make in teaching you how to manage the revenue cycle differently,” said Chuck Lane, VP, System Revenue Cycle, VP/CFO, University Hospital, Methodist Healthcare. “Not only does their playbook work, they make sure you know how to run it after they’re gone.”» Download Now