Download our Case Study on How Anderson Regional Cut AR Days by 50 Percent Using MEDITECH's Revenue Cycle Solution
About: Anderson Regional Health System is the most comprehensive health system in the East Mississippi/West Alabama area. The health system is ranked in the top 2% in the nation for patient safety and experience by Healthgrades, a leading independent healthcare ratings organization.
Challenge: During a transition in leadership, Anderson Regional analyzed their revenue cycle processes and identified areas for improvement. Key financial metrics showed that calculated A/R days were in excess of 95 days while there was also $7 million in credit balances across more than 7,000 patient accounts.
The hospital recognized that a lack of standard workflow processes was leading to inefficiencies in the revenue cycle department. Issues such as manual communication methods and over-reliance on paper needed to be corrected in order to revamp Anderson’s revenue cycle efforts.
Execution: An important component of Anderson’s success was their migration from MEDITECH’s MAGIC platform to the 6.1 solution. They were determined to maximize their use of all the tools their Revenue Cycle solution had to offer and ensure staff was adept at navigating the system.
Using the power of the Financial Status Desktop allowed the revenue cycle team to continuously monitor the organization’s financial health and make more informed decisions relative to overall performance. By using real‐time financial data to actively monitor key performance indicators, Anderson quickly identified negative trends and became proactive in reversing them.
Results: Anderson Regional Health System is reaping the benefits of improved revenue processes, including better revenue and cash flow, process efficiencies, and increased productivity. Highlights include:
- Cut A/R days by 50%
- Reduced lost revenue by 90%
- Improved revenue by $14 million in one fiscal year
- Achieved these outcomes while in the midst of mandatory 18% support and 15% clinical staffing cuts
“Having the right tools, for the right people at the right time means we can clearly set our performance standards for each team. MEDITECH’s Revenue Cycle solution has made a huge difference for us in that regard.”
-Kevin Adams, CRCR, CMRP, Revenue Cycle Director at Anderson Regional in Meridian, MS
Download this full case study and see what our Revenue Cycle technology can do for you.