Benchmarking Patient Access Performance

Transcription

1 Revenue Cycle Solutions Benchmarking Patient Access Performance Compare your patient access performance to our 15 best practice benchmarks Advisory Board estimates that the average 350 bed hospital stands to gain $22 M by achieving best practice in the revenue cycle, and it all starts with the front-end. To see how yours stacks up, compare your metrics to our 15 patient access benchmarks. To learn more about our patient access solutions, contact Connor Hoy at HoyC@.

2 1 Pre-Registration Rate # of pre-registered patient encounters # of scheduled patient encounters 2 Registration Accuracy (In/Out Patient) # of cases registered correctly on first attempt Total # of patient cases registered 3 Insurance Verification Rate Total # of pre-registered patients receiving insurance verification Total # of pre-registered patient encounters Definition: The percentage of scheduled patients registered in advance of their dates of service; helps ensure that patients can be financially cleared before the time of service and streamlines the full registration process upon patient arrival Definition: Measure of the accuracy of information captured and inputted at the time of registration; it is an indicator of the quality of registration work and the likelihood of rework on the back end Definition: The percentage of pre-registered, insured patients verified through eligibility processes, solutions, or vendors >98% < 3% error for both inpatient admissions and outpatient registrations >95% 2017 Advisory Board All Rights Reserved 2

3 4 Medical Necessity Check Rate Total scheduled cases where a necessity check is performed Total scheduled cases 5 Average IP Registrations per Registrar per Shift Total inpatient registrations across one shift # of IP registrars in one shift 6 Average OP Registrations per Registrar per Shift Total outpatient registrations across one shift Number of OP registrars in one shift Definition: The percentage of patient cases where a Medical Necessity check is performed at the time of scheduling to verify that the condition justifies the service requested; done to ensure the correct service is provided and to reduce the chances of a denial Definition: The average number of inpatient registrations by a single registrar during his or her shift; measure of IP registrar productivity Definition: The average number of outpatient registrations by a single registrar during his or her shift; measure of OP registrar productivity 100% 35 Registrations per registrar per shift 40 Registrations per registrar per shift 2017 Advisory Board All Rights Reserved 3

4 7 Average ED Registrations per Registrar per Shift Total ED registrations across one shift # of ED registrars in one shift 8 Deposit Request Rate for Copayments & Deductibles # of patients who were asked to pay a copay and deductible Total # of patients for whom copay or deductible payment is required 9 POS Collections Rate POS payments Total patient cash collected Definition: The average number of emergency department registrations by a single registrar during his or her shift; measure of ED registrar productivity Definition: Indicates the prevalence of patient financial obligation requests; measure of point of service collections compliance Definition: The percentage of patient payment opportunity collected at the point of service; measure of the organizations effectiveness in capturing the full patient cash collection opportunity; higher percentage minimizes exposure to bad debt, accelerates cash collections, and can reduce collection costs 40 Registrations per registrar per shift >98% >0.72% 2017 Advisory Board All Rights Reserved 4

5 Reminder Call Rate for Scheduled Services Call Abandonment Rate Collection Rate of IP Patient Pay Balances Appointments with a reminder call Total scheduled services Abandoned Calls Total inbound calls # of inpatients from whom financial counselor has collected balance Total # of inpatients Definition: The percentage of scheduled services where a reminder call is issued; higher rate helps minimizes instances of no shows Definition: The percentage phone calls abandoned by patient before speaking to staff member (e.g. patient may abandon call while placed on hold by patient access staff); measure of call center/patient access customer service Definition: Percentage of inpatients from whom financial counselors have collected patient-pay balances; measure of financial counselor efficiency and effectiveness 100% <2% >65% 2017 Advisory Board All Rights Reserved 5

6 Collection Rate of OP Patient Pay Balances Collection Rate of ED Patient Pay Balances Screening Rate # of outpatients from whom financial counselors has collected balance Total # of outpatients # of ED patients from whom financial counselors has collected balances Total # of ED patients # of patient screened for financial assistance Total # of patients Definition: Percentage of outpatients from whom financial counselors have collected patient- pay balances; measure of financial counselor efficiency and effectiveness Definition: Percentage of ED patients from whom financial counselors have collected patient-pay balances; measure of financial counselor efficiency and effectiveness Definition: Percentage of uninsured IP and high-dollar OP patients screened for financial assistance by financial counselors; measure of financial counselor efficiency and effectiveness >75% >50% >98% 2017 Advisory Board All Rights Reserved 6

7 Ready to get to best practice? We can help. Patient Access is a comprehensive workflow and analytics technology. With customizable workflows, intuitive staff worklists, real-time performance dashboards, and robust account lifecycle analytics, staff across the organization use one solution to take patient access performance to the next level. To learn more visit: /technology/patient-access-compass Patient Access Midcycle Business Office Payer Management Price Transparency Patient Access Revenue Optimization Business Office Suite Payment Integrity Give patients an accurate online price estimate Elevate front-end performance by automating patient access functions Prevent revenue leaks through improved documentation and coding Increase business office efficiency and reduce denials Maximize contract value and improve net revenue Comprehensive Consulting Services 2017 Advisory Board All Rights Reserved 7