Community Hospital Business Management
Thousands of communities rely on their local hospitals for care. Yet these very hospitals are in the greatest of financial peril. Greater patient responsibility for payment, growing complexity in revenue cycle, aging technology and constraints in staffing qualified employees all contribute to the challenges. Their very existence is at risk, thereby putting the care for millions of citizens also at risk. Sustain local care in your community. From software to services, select the right objects from...
Eligibility & Enrollment
- Address / ID Verification
- Denial Prevention
- Disability Claim Processing
- Disproportionate Share
- Access Analytics
- AuditLogix QA
- Authorization Manager
- Eligibility Verifier
- Medical Necessity
- Patient Bill Estimator
- Patient Portal & Self Registration
- Patient WaitTime
- Propensity to Pay
- Survey Manager
- Business Office Outsourcing
- Denial Management
- Denial Prevention Analytics
How It Works
MedAssist’s business office outsourcing solution creates process improvements that translate to increased reimbursement and cash on hand. MedAssist brings revenue cycle expertise and demonstrated best practices to hospital and health systems’ revenue cycles. The result of this process is improved reimbursement, increased cash on hand and reduced bad debt write offs. By partnering with MedAssist, your hospital can realize stable and consistent financial performance by leveraging MedAssist’s technology and revenue cycle expertise.
Aspen Valley Hospital increases days cash on hand by 583%
The Hospital: Aspen Valley Hospital District (AVH) is a critical access facility located in Aspen, Colorado. AVH offers a full range of services and has board-certified specialists in 25 different fields of medicine. On an annual basis, AVH records $82 million in patient service revenues through 1,800 admissions, 330 births, 600 inpatient surgeries, 900 outpatient surgeries, 31,000 outpatient registrations and 9,200 emergency room (ER) visits.
The Challenge: AVH management identified staffing and ineffective processes as the cause for decreasing cash and increasing receivables and write-offs.
The Solution: AVH partnered with MedAssist and First Consulting Group (FCG) to provide a full business office outsource solution to reduce AVH accounts receivable and increase cash.
The Results: The number of net days in accounts receivable for AVH has dramatically reduced since contract execution. During the clean-up of accounts, we reduced AVH’s number of net days in accounts receivable while decreasing the number of write-offs. While focusing on receivables initiatives, we increased AVH’s number of days for cash on hand while minimizing the number of write-offs.