Case study: Assessment reveals $5.7M in physician revenue cycle opportunity The comprehensive assessment was formulated through nine on-site office reviews, interviews of key stakeholders and extensive data analytics. The team identified inefficiencies throughout the revenue cycle process, specifically: • Practice specialties and locations operated in silos with little operational integration across the system. OUTCOMES The Grant Thornton team identified $5.7 million of opportunity — approximately 13% of annualized revenue — across the revenue cycle. The potential gain encompasses coding/documentation and billing and collection activity recommendations. • The revenue cycle process lacked comprehensive management and many important functions. Based on the recommendations, Grant Thornton developed a five-to-seven-month implementation plan to rectify the inefficiencies, with the full opportunity realized over an 18-month period. • Communication between practice locations and the CBO was limited. DO YOU HAVE SIMILAR CHALLENGES? • Front-end processes — including insurance verification, point-of-service collections, and scheduling/registration — varied widely across locations. • Inefficient and nonintegrated technology platforms created delays and additional work in the practices. Read “Revenue cycle improvements help assure hospital’s survival” (www.grantthornton.com/ revcyclesaves) and “Academic hospital gains best-ofpractice revenue cycle” (www.grantthornton.com/ sunyrevcycle) to see how Grant Thornton’s revenue cycle solutions has worked for other health care systems. • Avoidable write-offs and bad debt placements significantly exceeded industry standards. Have a similar challenge? Contact: Lane Jackson Partner Health Care Advisory Services T +1 704 632 3510 E lane.jackson@us.gt.com David Howard Senior Manager Health Care Advisory Services T +1 212 542 9949 E david.howard@us.gt.com After finalizing the assessment, the team provided recommendations and created a timeline for addressing key initiatives for improving the revenue cycle processes. This content is not intended to answer specific questions or suggest suitability of action in a particular case. For additional information about the issues discussed, contact a Grant Thornton LLP professional. Connect with us grantthornton.com @grantthorntonus linkd.in/grantthorntonus “Grant Thornton” refers to Grant Thornton LLP, the U.S.

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