OVERVIEW

Client reduced over 600 manual work hours annually and recouped more than $7.5 million in annual net patient revenue by transitioning from a manual charge reconciliation program to adopting RevID.

CHALLENGES

• A manual charge reconciliation process demanding significant work hours
• No reporting available to give insight into the efficacy of charge reconciliation
• Absence of technology led to unmonitored revenue leakage, posing downstream issues and threatening financial stability

GOALS

• Implementing an automated charge reconciliation process to reduce manual work hours
• Establishing a robust reporting system to generate insights on charge reconciliation effectiveness, promoting accountability and data driven decision-making across the organization
• Proactively minimizing revenue loss while quantifying its impact

OUTCOMES

• Adoption of RevID resulted in annual reduction of 624 manual work hours in charge reconciliation
• Client identified the departments responsible for the highest revenue leakage, enabling targeted educational and training initiatives
• Client recovered $7.5M in net patient revenue over a 12-month period that would have otherwise been lost