Case Study: Fox Chase Cancer Center
Fox Chase Cancer Center is part of the Temple University Health System (TUHS), a $1.7 billion academic health system with $240 million in net patient revenue Fox Chase is designated as a comprehensize cancer senter by the National Cancer Institute.
Part of an academic health system, Fox Chase Cancer Center is ranked among the best hospitals for cancer care, but was experiencing severe financial challenges that left it with essentially no operating liquidity prior to the engagement. New leadership sought to improve revenue cycle processes to bring the cancer center back to solid financial footing.
Fox Chase became part of the Temple University Health System in July 2012. Almost two years into the affiliation, the health system CFO, working with his revenue cycle teams, decided Fox Chase would partner with Huron to further increase cash collections, standardize processes, reduce denials, and increase accountability. Huron’s Revenue Cycle solutions enabled Fox Chase to achieve a $12 million annually recurring revenue benefit – equal to 5 percent of Net Patient Revenue improvement.
Optimizing processes:Temple University Health System and Fox Chase leadership worked collaboratively with Huron to implement optimized processes throughout the Fox Chase revenue cycle. Huron’s leading-edge methodologies were customized to meet the needs of the Comprehensive Cancer Center environment. The engagement decreased 90+ aging by $2.3 million, an 11.5 percent decrease. High-dollar follow-up work in process decreased from $9.1 million to zero.
Implementing new tools: Huron implemented high-performance workdrivers and reporting tools to manage all revenue cycle operations. The new tools provided consistency with the TUHS system and allowed for consistent metrics and reporting across facilities. The engagement increased Pre-Registration Secure at Admit percentage from 65 percent to 98 percent. Pre-certification obtainment increased by 5 percent.
Increasing accountability and productivity: Huron and Fox Chase implemented a new accountability structure across all aspects of revenue cycle operations. Weekly metrics meetings were instituted to ensure high performance. Follow-up productivity increased by 77 percent, resulting in a realized addition of FTEs without adding staff. A denials and write-off task force was implemented to drive further improvements.
Providing leadership and support:The Huron team provided significant support and leadership during a time of transition. The engagement also improved the partnership with physicians and department leaders to help them understand and avoid lost net revenue.
Together, these results contributed to a significant financial turnaround for Fox Chase. The organization is now consistently focused on optimizing financial outcomes, operational improvement, and customer service. The cancer center is on track to post a profit for the current fiscal year.Download Now