Change the conversation around the benefits of revenue cycle improvements
The RCIC is an end-to-end service offering that provides a unique and proprietary method to accomplish several revenue cycle tasks as well as specific solution sets around analytic processing that enables management teams to achieve higher operational and financial performance related to their revenue cycle activities.
This approach covers almost every major aspect of revenue cycle operations and uses modern technology advancements such as an exception based, rule driven workflow that enforces management-approved processes for employees to focus on the next most valuable activity as opposed to discretionary selection of work.
Internet of Things (IoT)
The RCIC leverages the Internet of Things (IoT) which allows the interconnection to occur via the computing devices embedded in everyday objects, enabling them to send and receive data in ways that historically have not been possible.
This allows Baker Tilly to implement solutions that improve and monitor outcomes at a granular level but that have an exponential impact on performance.
Robotic Process Automation (RPA)
The RCIC also incorporate Robotic Process Automation (RPA) which is the application of technology that allows for the configuration of software or a "robot" to capture and interpret existing applications for processing a transaction, manipulating data, triggering responses and communicating with other digital systems.
This means that specific functions of your revenue cycle can run 24-hours a day, seven days a week and 365 days a year, which significantly boosts outcomes and shrinks cycle times.
Cloud-based telephony tools
While all of these solutions drive significant levels of automation, there is still a human interaction component to completing several revenue cycle tasks. With that in mind, the RCIC has leveraged advancements in cloud-based telephony tools to drive staff productivity to unforeseen levels.
This allows for the implementation of solutions that can nearly double employee productivity and effectiveness.
Reduced vendor fees
The RCIC solution also provides insurance discovery tools, patient responsibility automated scoring and propensity to pay evaluation tools. These tools allow organizations to drastically reduce vendor fees and only outsource accounts that are truly hard to collect and require specialization, such as legal intervention.
Baker Tilly Remote Assist
The entire revenue cycle ecosystem is wrapped into the analytical-based Baker Tilly Remote Assist framework. This framework provides your management team with the ability to monitor your overall revenue cycle performance and have information to understand the root cause of negative performance and have timely and accurate information to take appropriate corrective action.
Additionally, the Remote Assist option comes with ongoing review of operational performance by the Baker Tilly consulting team to quickly identify issues, notify management of negative trends and provide guidance on how to correct for the entire time you use the solution. Think of it as "preventative maintenance" for your revenue cycle.
- Insurance verification
- Financial clearance
- Co-pay collection
- Treatment authorization
- Charge capture
- Clinical documentation improvement
- Coding quality and efficiency
- Charge master maintenance
- Billing and claim submission
- 3rd party follow-up
- Self-pay collections
- Denial management
- Under payment analysis
- Cash management