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Related Experiment Videos

Containing revenue-cycle costs.

Robert Geer1, Eric Burton

  • 1Accelerated Receivables Management, LTD, Park Ridge, Ill., USA. rgeer@armltd.com

Healthcare Financial Management : Journal of the Healthcare Financial Management Association
|May 9, 2003
PubMed
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Healthcare organizations can improve revenue cycles and maintain staffing by planning, measuring costs, and benchmarking performance. Strategic cost reductions in services and staffing are achievable without negative organizational impact.

Area of Science:

  • Healthcare Management
  • Health Economics
  • Operational Efficiency

Background:

  • Healthcare organizations face increasing pressure to optimize financial performance.
  • Maintaining optimal staffing levels is crucial for quality patient care and operational stability.
  • Revenue cycle management directly impacts an organization's financial health.

Purpose of the Study:

  • To outline a strategic approach for healthcare organizations to improve their revenue cycle.
  • To demonstrate how cost reductions can be achieved without compromising staffing levels.
  • To provide a framework for performance measurement using benchmarks.

Main Methods:

  • A three-step approach: planning, cost measurement, and performance benchmarking.
  • Analysis of cost-reduction strategies focusing on purchased services, staffing, and cost-to-collect ratio.

Related Experiment Videos

  • Emphasis on achieving target performance levels prior to cost-reduction implementation.

    • Main Results:

    • Revenue-cycle improvement is attainable concurrently with optimum staffing.
    • Planned cost reductions can be implemented successfully without adverse organizational effects.
    • Key areas for cost reduction include purchased services, staffing, and the cost-to-collect ratio.

    Conclusions:

    • A structured, data-driven approach enables simultaneous revenue cycle enhancement and cost control.
    • Strategic cost management, when planned and benchmarked, supports organizational financial health.
    • Prioritizing performance targets ensures that cost-reduction initiatives are effective and sustainable.