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Using Analytics to Increase Cash Flow

 

In today’s healthcare market, financial challenges rank as the number one issue hospitals face. To maintain a margin to support their mission, hospital CEOs must always be on the lookout for opportunities to boost revenue through improved reimbursement. Join Thibodaux Regional Medical Center’s Greg Stock, president and chief executive officer, and Mikki Fazzio, director, HIM and clinical documentation improvement, as they share how Thibodaux Regional leveraged analytics to provide actionable feedback to continuously improve the process, and how you can too. 

Wednesday, February 6
1:00-2:00 PM EST

Managing ‘discharged not final billed’ (DNFB) cases is one important way hospitals can improve financial performance by increasing collection on bills with incomplete payment due to coding or documentation gaps. Historically, Thibodaux Regional’s DNFB caseload had reached 500 cases per month, with about a third of patients discharged without a completed bill due either to missing documentation or incomplete coding. Thibodaux Regional tackled this process problem by expanding the use of analytics to measure and track every aspect of their billing services. The results were impressive and sustainable. Three years after launching its initial DNFB redesign effort, Thibodaux Regional has realized $2.4M in additional annual reimbursement and a 61% relative reduction in DNFB dollars, as well as a 6.2 reduction in AR days, resulting in significantly improved cash flow.
 
Join this webinar to learn how to:

  • Increase reimbursement levels by optimizing workflow analytics
  • Ease the documentation burden on overloaded physicians with time-efficient communication
  • Provide critical analytics visibility to key stakeholders

 
We hope that you will join us.

Greg Stock
Greg Stock, MPA - President and Chief Executive Officer, Thibodaux Regional Medical Center
 

Stock joined Hospital Corporation of America (HCA) in 1981 as a CEO. Over the next nine years, he was CEO of three different HCA hospitals in the Midwest and West Coast. He gained valuable experience leading the financial turnaround of those facilities during that time. Development of new services, recruitment of key physicians, improved productivity and market share gains were realized in both for-profit and not-for-profit settings. Stock became Chief Executive Officer of Thibodaux Regional Medical Center in 1990. Thibodaux Regional has experienced significant growth under Stock’s “results-oriented” leadership, and he has brought the medical center to a significantly higher level of performance. Under Stock’s visionary leadership Thibodaux Regional has become known as an Innovative leader in healthcare.

Mikki Fazzio
Mikki Fazzio, RHIT, CCS - Director, HIM and Clinical Documentation Improvement, Thibodaux Regional Medical Center
 

Fazzio has been in the Health Information Management field for 12 years and is currently the HIM and Clinical Documentation Improvement Director at Thibodaux Regional Medical Center. Her primary role is to oversee all aspects of the completion, availability, accuracy, and protection of the clinical information within the health record. This includes ensuring that the clinical documentation and coding of the medical record reflects the true severity of illness and risk of mortality of each patient, timely coding and 'discharged not final billed' (DNFB) management, and release of information management.