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Published on: February 16, 2011
A journey toward revenue cycle excellence
1The Nebraska Medical Center, Omaha, USA. jdanielson@nebraskamed.com
Summary
Nebraska Medical Center improved revenue cycle management using a multidisciplinary strategy. This initiative significantly reduced gross days revenue outstanding (GDRO) by 30 days, enhancing both patient and staff satisfaction.
Area of Science:
- Healthcare Administration
- Health Services Research
- Financial Management in Healthcare
Background:
- Healthcare organizations face challenges in optimizing revenue cycle processes.
- Inefficient revenue cycles can negatively impact financial performance and stakeholder satisfaction.
- A systematic approach is needed to address revenue cycle inefficiencies.
Purpose of the Study:
- To evaluate the impact of a multidisciplinary approach on revenue cycle improvement.
- To assess the reduction in gross days revenue outstanding (GDRO).
- To measure the effect on customer and employee satisfaction.
Main Methods:
- Implementation of a multidisciplinary team focused on revenue cycle enhancement.
- Data collection and analysis of key financial metrics, including GDRO.
- Surveys and feedback mechanisms to gauge customer and employee satisfaction.
Main Results:
- Achieved a reduction of 30 days in gross days revenue outstanding (GDRO).
- Observed significant improvements in customer satisfaction levels.
- Reported enhanced employee satisfaction following the implemented changes.
Conclusions:
- A multidisciplinary strategy is effective for optimizing healthcare revenue cycles.
- Reducing GDRO through targeted interventions leads to financial and operational benefits.
- Improvements in revenue cycle management positively influence overall stakeholder experience.
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