Matt Seefeld is Executive Vice President at MedEvolve and Will Mowe is Executive Director of Rebound Orthopedics and Neurosurgery. Today, Rebound is achieving better bottom-line performance with fewer FTEs. Zero touch claims that require no human intervention now account for 62% of total, and a closed balance net collection rate above benchmark at 98%.
What are “wasted touches” in the revenue cycle & how do we prevent them?
Healthcare organizations are already facing razor thin margins, and administrative waste could be the linchpin for future sustainability. Billions of dollars are at stake. I’m always surprised when I talk to doctors and ask them if know how many touches, or people, it takes to get paid for services they provide, they rarely know the answer. It’s also concerning when administrators and executives over the revenue cycle functions don’t have this information.