In my last blog, I wrote about the many challenges independent hospitals are facing as we all try to settle into a new, post-pandemic norm. Rising DNFB (discharged not final billed), a shortage of trained front-end RCM staff, higher denial rates and payment delays and changing payment methods have led more independent hospitals to choose a revenue cycle management partner.
Lawrence County Memorial Hospital is a 25-bed critical access hospital located in Lawrenceville, Illinois. It serves residents of Lawrence County and shares a border with southwest Indiana. At the time Lawrence County selected ResolutionRCMTM, there had been high turnover in the role of patient financial services director and the CEO Don Robbins believed “money was being left on the table.”
A client of QHR Health, Lawrence County chose ResolutionRCM to “navigate the waters of the revenue cycle.” ResolutionRCM recruited a new patient financial services director to lead the effort at Lawrence County.
After initially using ResolutionRCM’s cash acceleration service, Lawrence County wanted to build on the strong results and chose to partner for more comprehensive revenue cycle services. The hospital insourced their existing revenue cycle staff and rebadged them as ResolutionRCM employees.
Hospital Revenue Cycle Management: ResolutionRCM Results for Lawrence County
In one year, ResolutionRCM increased collections at Lawrence County Memorial Hospital by $3.1 million when adjusted for revenue—an increase of 16.5 percent in the gross collection rate.
As you might expect, Lawrence County’s leaders are quite satisfied the ResolutionRCM team.
Hospital Revenue Cycle Management: More Results for Independent Hospitals
At ResolutionRCM, our nearly 300 revenue cycle professionals are laser-focused on increasing cash collections, reducing accounts receivable (AR) days and solving staffing issues for independent hospitals. Our results include:
- Abbeville Area Medical Center, a 25-bed critical access hospital, increased collections by $1.1M above what they collected in the prior year in addition to a volume increase of 14.9 percent.
- Dallam Hartley Counties Hospital District, a 25-bed acute care facility in Texas, realized a net benefit of nearly $500,000, eliminated billing compliance exposure, and increased cash by approximately 4 percent on flat revenue.
- Brownfield Regional Medical Center, a 38-bed, short-term acute care hospital in Texas, reduced aging accounts receivable by $2.5 million.
- Ohio Valley Medical Center, a 234-bed hospital in Wheeling, WV, increased cash by $16 million.