Outsourcing: A strategic option for optimizing revenue and patient satisfaction

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BC: Studies show that the pandemic continues to negatively impact the financial health of our hospitals. Already operating on paper-thin margins, ensuring an efficient and effective revenue cycle is critical to financial stability. A shortage of skilled employees, squeezed budgets, compliance regulations and conflicting priorities drive providers to look outside their organization for the revenue cycle expertise required to achieve better financial and operational outcomes. 

At Savista, we deploy a team of highly experienced advisory specialists to conduct a comprehensive assessment of the provider’s current processes. The review pinpoints gaps in the revenue cycle, identifies revenue leakage, highlights inefficiencies and outlines opportunities for improvement. We then provide services if the provider needs additional support. This optimization results in greater efficiencies, a shorter revenue cycle, increased collections and a reduction in denials. 
 

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