Industry: Healthcare
Region: United States
Atos was engaged by a large University Medical Center to redesign all aspects of cash management for both the acute and ambulatory settings of the cash management functions within its medical center. Target goals included reducing costs, improving efficiencies, enhancing controls and automating manual processes.
The challenge
Atos was engaged to design a cash management function at a large university medical center across both the Hospital Billing and Physician Billing settings. Design objectives:
- Optimization of workflow
- Improved use and integration of the Epic Cash Management application
- Clean posting of 835 files (electronic transmission of healthcare payment/benefit information)
- Reduction of rejections
- Improved use of automated rules and multiple Epic RMO master files
- Enhanced controls, automated journal entries and general ledger reporting
The solution
We identified several opportunities for improvement in cash management and revenue accounting. The reduction or elimination of manual tasks was accomplished through improved use of technology and automation of multiple processes. The Atos team conducted this healthcare engagement using a four-phase approach, with each phase having defined milestones and deliverables.
Phase I: Current State Confirmation
Phase II: Issue and Goal Confirmation
Phase III: Development of Future-State Model
Phase IV: Transition Plan Development
Business benefit
The project was designed to produce savings in the reduction of labor hours through downstream efficiencies and improved accuracies in cash management. Creation of dashboards gave the client real-time views into backlogs and errors. These reports, scorecards and dashboards (and training the staff to use them) brought enhanced visibility into all aspects of posting, reconciliation and balancing with the GL. The result… streamlined processes, nearly 10 FTEs saved and annual savings of over $350K.
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Our experts
Philip Lewis
Vice President
Revenue Cycle Services
Teresa Luhn
Digital Health Solutions
Consulting