Revenue Cycle Consulting Services
KREG developed its Revenue Cycle Management Consulting Group to deliver significant benefits by building a strong partnership with each organization. KREG staff works directly with your staff to manage claims, contracts, and revenues across all operating units to re-engineer claims processing, increase collections, and monitor denials.
Our Revenue Cycle Management Consulting Group leverages the powerful capabilities of KREG's Contract Management Solution (CMA) system and brings years of experience to perform vital services. In addition to Payment Compliance and Contract Simulation services, KREG staff will provide:
Our results driven approach combines regional reimbursement experience, meaningful reporting and analytics, and turnkey or cloud-based implementation to ensure meeting both your short-term and long-term goals. We have many clients who prefer the best of both worlds: a fully licensed CMA application combined with KREG’s advanced implementation services where we work with the organization over an 8-12 month period customizing the complete implementation of our solution to the meet the clients' specific objectives.
After targeting the low hanging fruit via payment compliance efforts, KREG’s Contract Management consultants focus on 835 remittance data to analyze the financial impact of those denied claims on the client organization. This service is used to not only appeal and recover opportunities as they present themselves, but to provide business intelligence to guide decision making solutions, whether it be by service location or by physician.
As items are identified, our consulting team uses claim tracking features to customize a process specific to your organization and staff to follow up issues and delegate workflow responsibilities. Every denial or payment compliance issue is separately identified, given a status, assigned a priority, and a responsible person. Therefore, as work is created, work is monitored to completion. Drill-down reports or Dashboard Management tools visually display performance and outcomes. Our consulting team prides itself on the partnership between your staff and ours to not only identify issues, but bring them to closure.
Net Revenue Reporting
From working with facilities across the country KREG’s Consulting Team has vast experience modeling a myriad of contracts with complex terms and conditions. The accuracy of expected net revenue developed from our system and expertise is a trusted resource for clients in netting down accounts receivable at time of billing. KREG’s consulting team develops accurate net revenue through detailed contract builds, and assists in creating export routines to upload the expected payment or expected contractual back into your patient accounting system on a nightly basis. Separately, some clients simply trust our net revenue to improve the accuracy of their monthly/quarterly/yearly financial reporting.
A major component of our process improvement engagement is the development of meaningful reports (ad-hoc, scheduled and/or claim tracking). As we work with key hospital staff our focus is on “hot spot” areas of concern and our goal is to ensure required reporting/analytics are met. As a final step in our engagement, KREG’s Consulting Team will develop dashboard analytics from regularly scheduled reports to streamline delivery of relevant data to appropriate staff. The combination of data elements used to create meaningful and actionable dashboards allow us to graphically represent key indicators from workflow productivity to clinical trends.