Optimizing Revenue Performance With Virginia Hospital Center
The implementation of a new Health Information System led the leadership of Virginia Hospital Center to engage Huron to optimize revenue performance. This included the redesign of processes, implementation of new tools, improved reporting and staff training. The project led to rapid and sustainable gains, including a 33% increase in self-pay patients financially screened in-house, a 77% increase in patients financially secure upon admission and accounts aged more than 91 days from discharge decreased from 19% to 15.9%.
Virginia Hospital Center (VHC) had achieved solid performance in several core revenue cycle functions through internal initiatives and was preparing to implement a new Health Information System (HIS). The hospital leadership wanted to build on this success and engaged Huron to optimize revenue performance.
VHC engaged Huron to redesign processes, implement new tools, improve reporting and train staff across the revenue cycle. In addition to delivering rapid and sustainable revenue gains, the engagement optimized HIS implementation and improved staff satisfaction and patient access.
Achieving superior revenue performance: Huron prioritized and coordinated workflow throughout the revenue cycle. Redesigned processes helped improve patient access and increased VHC’s ability to secure financial sponsorship at admission. New workflow and reporting tools also improved productivity.
Optimizing HIS gains: VHC implemented Huron’s healthcare revenue cycle solution prior to beginning an HIS conversion, establishing a strong foundation for improved performance and creating more rapid results. Huron’s tools accelerated the increased cash flow and projected return on investment.
Sustainability was achieved through employee empowerment. “Huron exceeded every expectation that I had,” said Jim Cole, president and CEO of Virginia Hospital Center. “They not only achieved immediate financial results, they empowered our employees by bringing in a systematic approach and training our staff to implement it. The value and return on investment of the Huron engagement is very high.”
When reflecting upon the success of the engagement eight years later, Robin Norman, senior vice president and CFO of VHC, stated that “Our staff and leadership continue to use the tools and techniques implemented by Huron in 2008. The strong foundation they established has enabled us to grow and advance our revenue cycle as our environment has changed over time. The Huron solution is sustainable.”
Virginia Hospital Center is a 350-bed teaching hospital and tertiary care facility offering comprehensive medical services in the Washington, D.C. Metropolitan area.