Health care finance consulting means different things to different people. In our case, we're talking about the revenue cycle part of the finance process. This starts with charge capture, then through the charge coding process via the charge master, billing, cash posting and follow up, including denial management, and, if needed, collections.
How have we helped? Since 2001 we've helped hospitals find millions of dollars a year in revenue that they should have been capturing, and millions in new revenue they didn't know about. At least 75% of that came without increasing the amount billed, at least initially. We have helped hospitals with their compliance issues, many of which they didn't know about already. We have helped hospitals bring in more money through their billing processes and reduce the number of denials that slows down how fast they get their payments.
Of course, this means great things for the entire financial process. It's hard to pay anyone without getting paid first. It also helps departments show just how much they're worth to a hospital, as well as pointing out which services might be a drain.
We've been asked why hospitals and their employees don't already know many of these things if they're doing the work. Truth be told, most people are too busy trying to do the heart of their jobs and just don't have enough time to get to everything. It takes a lot of work and training to get personnel to the point where you can leave them alone to allow you the time to learn how to do many of the other things that one's job should entail. We understand that, and that's why we offer revenue cycle consulting solutions of all types of our clients.
For more information, please contact:T. T. Mitchell Consulting, Inc.
P. O. Box 2512
Liverpool, NY 13090
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