Financial Performance Improvement
Catalyst addressed every area of the revenue cycle, including managed care contracting, strategic pricing, charge capture, clinical documentation, coding, denials, cash collections, third party payer management, contracting, AR management, patient payment, bad debt, and front and back-end process redesign.
Typical Catalyst Project Results:
1-5% Net Revenue Improvement; 5-10% One-Time Cash Improvement; 5-20% Cost to Collect Reduction.
Performance Benchmarking and Reporting
Effective benchmarking and reporting practices enable providers to understand and enhance the processes and performance factors that impact their cost-effectiveness, efficiency and quality of care. By incorporating Key Performance Indicator (KPI) measurements into your daily workflow, Catalyst helps you manage pay-for-performance outcomes. We integrate healthcare benchmarks with your financial and clinical analytics to help you identify and prioritize opportunities for improvement.
30% of healthcare payment’s $5 trillion annual price tag is wasted due to inefficient billing.
Source: Becker’s Hospital CFO -Carrie Pallardy, June 3, 2015