Strategic review of Revenue Cycle Management (RCM) capabilities to drive efficiencies and revenue
Client
Leading Hospital System In UAE – Board, CEO Office & Executive Team
The Challenge
As a major healthcare provider, the client had long-standing contracts and billing practices with payors across the UAE.
Multiple regulatory and operational updates had resulted in perceived inefficiencies in the Revenue Cycle and collection processes, emanating from legacy contracts, the internal bifurcation of the operating model and separation of financial accounting practices.
Additionally, the strategic intent of the client was to move to a Value Based healthcare model required a fresh understanding of the RCM performance baseline.
Our Approach
Evaluated the current RCM models through multiple lenses, including review of processes and policies for Claim Submission, Resubmission and Reconciliation
Benchmarked against international and regional practices
Identified the capabilities needed to enable the RCM function to support VBHC models
Engaged with client stakeholders to establish and prioritize improvement opportunities and initiate a roadmap framework for future RCM activitiesatient archetypes
Outcomes
A suite of prioritized recommendations to improve both the efficiency and effectiveness of RCM capabilities in the client (several since implemented)
Quantified benefits (and opportunity costs) of effecting change
A framework for developing recommendations into practical and early actions to realise change.