How do hospitals keep up with federal rules and regulations and still create a patient driven environment of care? It can seem insurmountable,” says Steven McCoy, CEO of Healthcare Resource Group (HRG), a Spokane Valley, WA based revenue cycle management company.
“There is a real need for hospitals to implement cutting-edge tools and streamlined revenue processes that align with current government statutes,” McCoy says while reflecting on his 34 years of experience working in a health care landscape where organizations aim to be profitable and provide quality care.
“It is a lack of time and knowledge that keeps hospitals from identifying key areas of improvement to optimize their reimbursement process,” says McCoy. “At HRG, our job is to develop tools to help hospitals quickly identify these areas.”
The key to HRG’s success and continued growth in this ever evolving market is their agile ability to understand the individual needs of each client and craft revenue-cycle solutions that are tailored to the client’s needs. Those needs often include patient access, charge capture, coding, auditing, initial billing, account follow-up, cash posting, Chargemaster, and self-pay.
Hospitals focus on patients while HRG uses HELIX, a proprietary software solution that acts as a middleware, managing the background processes such as maintaining medical records and processing health results. HRG enables health care providers to conduct operations in a digital way and match patient expectation with simplified medical health record maintenance and billing process.
HELIX processes data and helps to streamline processes and workflows in order to expedite the reimbursement process
“Our holistic view of the healthcare process enables healthcare organizations to gain patient satisfaction,” says McCoy. “We ensure the process aligns with the patients’ expectations.”
In one recent case, a community hospital was experiencing difficulties due to restraints in internal processes. HRG collaborated with the client’s various departments and discerned intricacies in finance, patient registration, medical record processing, and workflows to identify a solution. HRG deployed both a team of experts onsite at the hospital and a team working out of their OutPartnering Center to assist with key issues. In the first year alone, partnering with HRG allowed the hospital to decrease AR days and increase revenue and cash on hand.
“Every team member is devoted to our organizational principle: Customer First,” says McCoy. HRG knows the importance of human capital and proactively develops and invests into one of their strongest assets, their team. “HRG believes in open dialogue, as a company we conduct weekly and monthly review meetings to explore ways for product enhancement and improvement.”
HRG’s leadership team is well-versed in the revenue cycle landscape’s transient nature, which requires quality service in tandem with regulatory changes in the medical arena. HRG currently serves clients in 28 states and is growing. “At the end of the day, we want to create a winning combination of quality services that allows healthcare providers to overcome obstacles in the revenue cycle arena,” says McCoy.
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