Best Practice Concepts in Revenue Cycle Management

The National Rural Health Resource Center (The Center) and Eide Bailly are pleased to announce the release of the Best Practice Concepts in Revenue Cycle Management guideand webinar series.

Revenue cycle is an incredibly important process, not just to the financial welfare of the hospital, but also because the seamlessness of the process affects patient satisfaction. The Center is excited to announce the creation of a Revenue Cycle Management Toolkit to assist rural hospital executive and management teams to become more aware of, and adopt, best practices in this process. 

The toolkit includes two pieces. The first is a guide, "Best Practice Concepts in Revenue Cycle Management."

The guide includes a "Best Practice Check List" (appendix C) which provides a succinct list of best practices for all aspects of the revenue cycle process, from scheduling and pre-registration to billing and collections and denial management. Another resource included in the guide is an extensive list and description of recommended Key Performance Indicators (KPI) which will assist hospitals in monitoring revenue cycle metrics.

A second resource in the toolkit includes a series of four Revenue Cycle Best Practice webinars presented in July 2014 by Eide Bailly's Kimberly Moore, Director, Health Care Revenue Cycle Consulting. These include: 

• Keeping your Patient at the Heart of your Revenue Cycle
• Financial Clearance and Pre-Registration: Steps for Success
• Account Management: Move from Denial Management to Denial Avoidance with Process Improvement
• Becoming a Patient Focused but Metrics Driven Revenue Cycle Team

Please feel free to access the toolkit and share with others!

We hope that you find the guide and the webinar series to be a useful performance improvement toolkit and a helpful training resource for your employees. It's also designed to assist State Offices of Rural Health directors and Flex Program coordinators in gaining a better understanding of the revenue cycle best practices so that they may develop educational trainings to further assist rural hospitals with performance improvement.

For more information or questions, please contact Ralph Llewellyn.

This is a publication of the Rural Hospital Performance Improvement (RHPI) Project, a program of The Center and created with the assistance of Eide Bailly. The RHPI Project is funded by the Health Resources and Services Administration's (HRSA) Federal Office of Rural Health Policy (FORHP).