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Gaining Actionable Insight Into Financial Systems and Areas Impacting The Revenue Cycle
Gaining Actionable Insight Into Financial Systems and Areas Impacting The Revenue Cycle
Gaining Actionable Insight Into Financial Systems and Areas Impacting The Revenue Cycle
Introduction
Introduction
Critical Issues
Results
About Spartanburg Regional
Healthcare System
Quick Facts
Credible, Relevant Peer
Comparisons Made Easy
Hospital systems across the country are looking to streamline their billing and collection
Tracking Relevant Key Performance
Indicators
processes to become more efficient and better compete in their markets. The challenge many
face is how to turn the data thats already flowing through financial systems into actionable
intelligence that can help hospital executives make important decisions. Putting the data into
a usable form is one challenge; other hurdles include how to quickly drill down into the data to
get the information needed to improve processes and how to compare performance against peer hospitals.
Spartanburg Regional Healthcare System in South Carolina was facing many of these challenges when
it chose to add RelayAnalytics Pulse to its RelayAssurance claims management system. Brian Earnest,
Vice President of Revenue Cycle, says the addition of
Pulse already is paying dividends through verification
Critical Issues
of the effectiveness of the systems billing practices
Lack of ready insight into key performance indicators
and comparison against peer institutions to validate
Inability to gauge financial performance against peer
performance levels or prompt corrective action.
hospitals
I can look at my key performance indicators, and then
Difficulty to investigate billing anomalies
compare them to other hospitals I select, hospitals that
are similar to ours in size, scope, services and government
structure, Earnest says. Thats valuable intelligence that
Results
helps us understand where we are doing well, where
A first pass clean claim rate 16.65% higher than peers
there are opportunities for improvement and how to set
Daily snapshot of key performance indicators
strategic objectives.
KPIs compared to customized list of peer health
systems
Introduction
Critical Issues
Results
About Spartanburg Regional
Healthcare System
Quick Facts
Credible, Relevant Peer
Comparisons Made Easy
Tracking Relevant Key Performance
Indicators
Quick Facts
Introduction
Critical Issues
Results
Introduction
Critical Issues
Results
RelayAnalytics Pulse includes data from hundreds of hospitals that is updated daily and include historical
views. The dashboard is highly customizable and quick views of key performance indicators can even be
viewed on mobile devices. Earnest spent a little time during the go-live phase to set up parameters of
peer hospitals, nonprofit facilities of 500 or more beds in urban settings with Level 1 trauma centers.
Now he can look at a wide range of indicators at a glance, comparing Spartanburg Regional against
similar hospitals or against benchmarks, drilling down into areas where he wants more information.
This gives me a quick snapshot of trends I might not have been aware of, Earnest says. If denials
spike, for example, I can see it immediately and drill down by payer or code to see whats going on. I like the green/yellow/
red indicators {exceeding, meeting or under-performing} that show our performance versus my peers so I know what my
ratio is and see when it changes.
In one instance, after noticing that the systems electronic fund transfer rate was slightly below the peer average, Earnest
looked deeper into the data and noticed one payer wasnt using EFT. That quick fix brought the system back to a normal range.
We choose Pulse because we have a long-standing relationship with RelayHealth, Earnest says. It easily integrated with the
other products we have and uses the claims data already flowing through RelayAssurance. There was virtually no setup on
our side to get it up and running.