Revenue Cycle Management
Impact Advisors Earns Best in KLAS: Financial Improvement Consulting for 2024
The Best in KLAS Financial Improvement Consulting is awarded to firms focused on improving the financial performance of a healthcare organization, which could include reducing cost, increasing net revenue, and/or improving efficiency. Engagements often assist with redesigning the revenue cycle of the organization, are very large in scope and investment (i.e., exceed a minimum of $500K), and are over six months in duration.
Impact Advisors received a score of 96.7 for Financial Improvement Consulting.
Challenges
A high functioning revenue cycle is seamlessly embedded throughout your organization, delivering more than on-time, in-full collections. Done well, it also enhances patient experience, delivers margin improvement, enables organizations to take on more risk-based care, and provides key support for strategic decisions.
- Improving operational margin
- Maximizing EHR value
- Automating without financial risk
- Creating a positive consumer experience
- Keeping up with shifting payer requirements and increasingly complex government regulations
Value Delivered
Increasing margin pressure continues to top the list of challenges for healthcare executives. The revenue cycle – set up to work better, easier, faster – presents opportunity to move from a defensive position to an offensive one.
How We Deliver Value
Impact Advisors’ multi-faceted experts have both the real-world operations experience and technology expertise needed to fully understand the impacts of each decision made within the revenue cycle. They listen, challenge, adapt, and remain focused on your best interests, working side-by-side to implement the fixes, deliver value, and ensure your team’s long-term success.
EHR-Driven Transformation
Design the system you need and elevate your team’s performance to take full advantage of it.
From initial planning through post-live stabilization, Impact Advisors’ experts guide the essential collaboration between IT and revenue cycle teams to design and build the EHR you envisioned and optimize workflows to fully leverage its power for maximum return on investment.
Operations-Driven Transformation
Empower your teams to exceed performance objectives.
Impact Advisors’ revenue cycle experts work with your revenue cycle and clinical teams to uncover and implement workflow improvements that will positively impact financial performance and patient interactions. Then, we build our solutions directly into the tools your teams use, utilizing automation where appropriate, helping you realize ROI from new and existing technologies.
Typical areas of focus include:
- AR / DNFB reduction
- Denials reduction
- Patient balance / POS collections
- Charge capture improvement
- Clinical documentation improvement
Revenue Cycle Managed Services
- Impact Advisors offers tailored solutions, proven methodologies, and highly experienced, knowledgeable resources to help you achieve transformational margin improvement or reach specific metric targets, such as reducing AR over 90 days or decreasing net cost to collect. We can
- Empower revenue cycle end users and manage your operation toward greater outcomes
- Augment your team with highly skilled resources who move your RCM KPIs
- Provide targeted or comprehensive outsourcing (onshore or nearshore) solutions, including designing, staffing, managing, reorganizing, and/or scaling the operation
Learn more about these services and our participation in the Epic Rev Cycle Partners Program.
RevCycle Staff Augmentation
Our highly skilled, “roll up the sleeves” resources can fill vacancies or temporarily supplement teams across your revenue cycle. Ours are not the generic project managers and analysts that many staff augmentation firms provide – our associates have “grown up” in healthcare, working in the clinical and revenue cycle operations roles we support at our clients.
Interim Leadership
Our experienced revenue cycle executives will seamlessly and expertly manage operations until you find the right person for the role. They will
- Advise on near- and long-term revenue cycle departmental goals
- Consult with leadership regarding operational performance, best practices and outcome metrics
- Review reports generated by the department, offer interpretation and recommendations for further analysis or action
- Offer insights for improving metrics, processes and reducing risk
- Address day-to-day “in the moment” leadership needs
Digital Enhancement
From Robotic Process Automation to Predictive Reimbursement Analytics to Workforce Monitoring and Decision Support, Impact Advisors leverages our industry-leading technology experts to take your Revenue Cycle to the next level of performance.
Our Leaders
Jim Akimchuk, Jr. – Revenue Cycle Practice Lead
Jim is an accomplished healthcare professional with over 37 years of healthcare information technology and revenue cycle operational management experience, working with academic practice plans, large group practices, hospitals, and ancillary services. He is a proven leader with strong financial, operations, billing, and technology experience as well as a successful record of transforming underperforming organizations through large-scale process redesign and change management.
Randy Notes – Margin Improvement Expert
Randy has a 25+ year career in healthcare and management consulting with focus on margin improvement and enhancement.
Performance Improvement, Revenue Cycle, Workforce
ERP, Healthcare News, IT Strategy & Implementation, Revenue Cycle, Security
Performance Improvement, Physician Enterprise, Revenue Cycle, Supply Chain
Regulatory, Revenue Cycle
Revenue Cycle, Supply Chain
Ready to join the team?
Start making
your impact today!
If you are passionate about improving healthcare, we’d like to know you. Check out our current list of openings or talk to one of our recruiters.
