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10 ways to achieve revenue cycle success

Fix the right problem and rule the mid-cycle, speaker says.

Susan Morse, Managing Editor

Leigh Williams, administrator for Business Systems, University of Virginia Health System, gave a top ten list to achieving financial goals in a value-based world, during Tuesday's Revenue Cycle Solutions Summit in Boston.

[Also: Revenue Cycle Solutions Summit kicks off Tuesday: Experts to tackle value-based planning]

Working up to the number one goal, Williams said healthcare administrators need to know the legislation that affects value-based reimbursement, the IT needed to there, and goals that put the consumer up front.

This is different than the patient experience, which Williams says should be considered throughout the life of the consumer's revenue cycle process.

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It's important to engage physicians in shared goals. This is easier said than done but without their buy-in, it will be hard to reach value-based financial goals.

There must be a comprehensive workflow. When issues are found, find the focus. In other words, Williams said, "Fix the right problem."

And finally, rule the mid-cycle, she said. The front and back ends get much of the attention in revenue cycle, but what goes from coders to payers must be correct to collect what's owed.

Twitter: @SusanJMorse