Floyd Healthcare System Improves Revenue Cycle Performance
Revenue cycle functions in the Floyd Health Care System were divided both physically and organizationally, with separate offices and different reporting structures. As these individual units grew, each developed their own culture and processes, resulting in inefficiencies. The system also lacked the tools and reporting processes needed to maximize revenue cycle performance.
Floyd and Huron worked together to utilize Huron’s sustainable Revenue Cycle solutions by creating an approach tailored to the organization’s needs. By providing a focused project team, a seven-month implementation phase and long-term management oversight, Huron helped Floyd streamline its revenue cycle and realize $30 million in financial benefits.
“With Huron’s help, we were able to enhance our tools and reporting significantly,” said Rick Sheerin, Vice President and CFO of Floyd Medical Center. “This resulted in increased efficiencies as well as staff and departmental accountability, allowing us to achieve substantial results.”
Centralizing revenue cycle functions: The engagement moved revenue cycle staff to a central location, restructured teams within the unit and reorganized the reporting structure. Huron collaborated with Floyd to put fundamentals in place quickly, delivering rapid results.
Strengthening teamwork: The previous structure made teamwork difficult and gave rise to separate cultures within revenue cycle operations. The engagement provided training to help eliminate silos among staff. The new, standardized structure enhanced communication and productivity.
Improving workflow and analytics: The engagement provided Floyd with tools and training to guide workflow, increasing productivity and reducing workarounds. The tools also provided analytics and reporting to ensure accountability. Additionally, Huron worked with Floyd to adjust and improve self-pay collection processes and vendor utilization.
Ensuring sustainability: Huron’s tailored approach included extensive training and provided for ongoing oversight and guidance, allowing for continued improvement in revenue cycle performance. This approach also ensures sustainable results.
Floyd Healthcare System has served Northwest Georgia and Northeast Alabama for over 70 years. The system includes Floyd Medical Center, a 304-bed acute care hospital and regional referral center. It also includes the Polk Medical Center, along with numerous services and programs throughout the region.Download Now