This blog post is part of a series on strategies and methods to accelerate reimbursement based on a recent webinar with VerityStream’s Dawn Anderson, Senior Manager of Client Success Services and Consulting, and Cheryl Cisneros, Manager of Client Success Services and Consulting.
Choosing the right provider enrollment metrics for your dashboard can improve workflow efficiencies, give insight into onboarding and performance data, and improve reimbursements in your organization. Collaboration is vital to evaluating and developing the onboarding provider dashboard, so keep in mind that anyone in your organization might have input that could lead to a more informed metric selection—every single person working with the onboarding process has the capacity to impact reimbursement! Consider these action items when developing your onboarding provider dashboard:
Every day that a provider is unable to see patients because they are waiting for the onboarding process to be complete is a dollar lost by your organization. By using the dashboard turnaround time measure you can analyze your organization’s overall turnaround timeframes by pulling data from the workflow processes or within data fields if you have clearly defined what the start time and end point is. And you can choose to drive your turnaround time by Medicare, Medicaid, or commercial payers or even look at what is delegated versus non-delegated. This provides an opportunity to show your department and leadership the opportunities for growth and demonstrate the improvements which have been made with workflow processes and data standardization to improve your overall turnaround time.
Many organizations establish system goals to impact the revenue for the organization. The best way to align those goals to your respective department is to incorporate key performance indicators (KPIs) of turnaround time that you set for your department and then bring it down to the coordinator level. Then employees feel an alignment to the system, organization, and overall revenue goals while they are improving reimbursements within the organization.
When selecting what might be in your dashboard, consider management, operations, and performance data. It is also extremely valuable to look at the volume—what is the total number of enrollments that are in process, submitted, and completed at any given time? Having the capability to quickly respond to a leader’s request to know how many applications are currently sitting in your department is extremely valuable. If you are able to automate these functions and reports you can respond to critical questions from leadership and show the value that you provide to your organization.
No one likes to admit that write-offs occur. The reality is that every organization has to write off lost opportunities because they haven’t been able to properly enroll their practitioners. It’s important to say that sometimes this happens, but realize that if you can drill down to what caused it, you can track that information and minimize the frequency. Your dashboard is a mechanism to do this in collaboration with your revenue cycle services team by analyzing pending provider enrollments—how many dollars are on hold overall, on hold by payer, or written off? By working together you can bring impactful changes to your bottom line financials and bring better reimbursement to your organization.