Today, healthcare organizations of all sizes and makeup appear to have a disproportionate amount of working capital tied up in receivables. Historically, this problem is tied primarily to two important issues 1. Poor processes; and 2. Ineffective use of technology enablement. This has led healthcare to incur the highest costs of collections of any industry in the United States. If your revenue is lost in inefficient processes and cash is tied up in claims administration or in accounts receivable, then more than likely (given the economics of the current healthcare environment) they are not available for productive assets such as new technology and new services.
PMC HCS can help release working capital tied up in receivables by restoring access management, stimulating billing and collections, improving processes, and more effectively enabling technology.
Revenue Cycle Consulting Services – PMC’s integrated solution encompasses the entire revenue cycle from patient access through health information management to patient financial services. Whether you require physician practice, academic medical center, or acute care/hospital/inpatient/outreach laboratory; and regardless of your current information technology, PMC will assist in the avoidance of potentially purchasing new systems, by redesigning your processes (utilizing our data-driven process improvement model), training your employees, and optimizing your existing information technology.
At Risk Contracting – PMC’s confidence in our service capabilities is demonstrated by our willingness to go “at-risk” for the attainment of revenue cycle performance improvements, with a contingency fee based on cash collections (revenue recovery) in excess of historical levels.
