Aug

06

TIP: Plan for year-end now

By Patient Access Weekly Advisor

The following is a tip from Catherine Pallozzi, CHAM, CCS, director of Patient Access at Albany (NY) Medical Center. Pallozzi is on the advisory board of the monthly newsletter, Patient Access Advisor.

What is so interesting about the revenue cycle is just when you have the team geared up and on their way, the fourth quarter of the year is upon you.

In August/September, I find taking “inventory” of goals and objectives and ensuring a careful review of all key performance indicators helps in the close of the “year end book.” Your team works hard all year long to lose steam in the closing months.

Here’s what you can do to help:

1. Be sure to review your overall quality as well as individual quality indicators. Review specifically for trends and ensure the remediation is completed.

2. Ensure all your opportunity for collections are reviewed. Review your trending. Are there areas that possibly with a new strategy can improve collections?

3. Be sure all your staff members are made aware of keeping their key performance indicators at the department target. If you complete a “dashboard” of indicators for them, September is a perfect month to review with them. They will have ample time to make a correction that can impact that bottom line as of December 31.

4. Rally the troops! That fourth quarter ramp-up for a strong close is an important aspect of the revenue cycle.