How Intelligent A2C is enhancing the Admissions-to-Cash value chain for private hospitals

The good news for hospital and health executives is that technology is not only boosting frontline clinical services. Befitting an industry worth billions of dollars, healthcare is underpinned by a huge administrative arm where the slightest improvements in productivity, efficiency and accuracy can have a monumental effect on budgets and balance sheets. At a time when hospitals and healthcare providers have never been under more financial pressure², it is reassuring to know there have never been more ground-breaking solutions to ease the administrative burden.

This is especially true in navigating what we know as the Admissions-to-Cash (A2C) value chain. Encompassing crucial tasks such as billing, coding and collections, it has a direct and sizeable impact on cash flow and profitability at hospitals but has traditionally been weighed down by processes that are:

• Manual intensive
• Require input from numerous departments and team members
• Complicated and rely on the expertise of highly skilled staff and
• A heightened risk of inputting errors and other inaccuracies that delay payment and, in turn, revenue generation.

Times are changing though, with Innovior leading the way by combining technology and consulting expertise to enhance the Admissions-to-Cash value chain in Australian hospitals.

Introducing Intelligent A2C.

What is Intelligent A2C?

Intelligent A2C is a series of scalable automated solutions across the Admissions-to-Cash value chain that can provide rapid benefits to hospitals. While the value chain features several steps that fall outside the remit of Intelligent A2C (eg: admissions, treatment, discharge), the administrative areas that can be enhanced by Innovior’s automated solutions benefit greatly.

What are the features of Intelligent A2C?

Intelligent A2C offers a range of solutions that positively impact vital aspects of the Admissions-to-Cash value chain:

• Patient eligibility check – Innovior’s automation solutions allow hospitals to efficiently validate a patient’s health fund eligibility. 
• Medical coding exploration – did you know hospital coding errors cause 63% of mistakes and more than 50% of health fund denials are due to billing input mistakes? Our automated solutions significantly improve accuracy and save crucial time by automatically converting digital notes to medical codes.
• Billing as a service – we work with hospitals to integrate with industry-standard patient administration systems such as WebPAS, FYDO and iPM, etc. to automate complex billing processes and automatically generate medical bills based on treatment details and health fund contracts.
• Collections – minimise revenue leakage by using cutting-edge solutions to automatically follow-up on outstanding bills and, when necessary, elevate to human agents.
• BPO – Intelligent A2C is not just about technology but support, with our Managed Services team ready to handle process exceptions and create end-to-end coverage of hospital billing processes.
• AI – artificial intelligence is changing how we work and our leading AI tools allow hospital executives to generate data-driven insights that maximise efficiencies and facilitate improved staff workflows across the A2C value chain.

What are the benefits of Intelligent A2C?

Intelligent A2C and its automated solutions is already delivering game-changing benefits for many hospitals including:

• Increased revenue – imagine reducing revenue leakage by up to 50%. Intelligent A2C puts such goals within reach by minimising human process errors, accurately navigating complex rules and ultimately curating accurate bills.
• Reduced costs – our range of automated solutions do more than just eliminate time and effort from the A2C process. They subsequently ensure significantly lower costs to serve.
• Better cashflow – here is a winning formula for any hospital executive - accelerated billing and coding processing times plus streamlined collections equals reduced time-to-cash. In fact, our Intelligent A2C solutions have been known to reduce DSO by up to five days, which would be welcome relief for the 70% of medical providers that say it takes at least a month to collect payments from patients³.
• Improved compliance – we know the best results come when great technology is blended with quality people, which is why our solutions use checks, flags and alerts to automatically raise errant or suspicious items for manual human review. You might call it peace of mind – we call it best practice.

Why does it pay to partner with Innovior?

There may be various technologies that help automate the Admissions-to-Cash value chain but genuine digital transformation requires more than an out-of-the-box solution. As experts in our field, we know better than most the benefits to be gained from working with a partner that not only knows technology but how to best implement it.

• Consulting-led approach – every great partnership starts with a conversation and that’s why the first priority for our expert consultants is assessing a hospital’s unique needs. What are your strategic objectives? Do you have unique business challenges? How can we deliver quick wins and deeper transformations? It’s all about delivering a tailored solution to ensure lasting change.
• Digital transformation leaders – in an industry where some tech providers come and go faster than you can say “fly by night”, we have more than a decade’s experience delivering cross-sector digital transformation, advancing state-of-the-art solutions and helping our health clients stand out from the crowd.
• End-to-end delivery and support – we recognise that digital transformation is a journey and support our clients through all aspects of enhancing the A2C value chain through automation. From discovery and delivery to providing ongoing managed support, we are not just a provider but an integral part of many hospitals’ teams.
• Robust technology partnerships – we don’t just partner with hospitals but also best-in-class technology providers to ensure our clients have access to top-shelf automation solutions. Salesforce, Microsoft and Service Now are just a few of the industry leaders that help us help you realise your A2C value chain goals.

Conclusion

There has never been a better time for hospitals and fellow health services to reinvent the way they do administration, particularly when it comes to enhancing the Admissions-to-Cash value chain. Automating complex processes is a crucial step on the pathway to digital transformation and Innovior is the ideal partner to help you get there.

Salesforce has a proud history of evolving to meet the changing landscape of healthcare. Discover how it has now recognised the rising importance of home care by introducing Home Health to efficiently manage in-home healthcare services.