Are Your Revenue Cycle Metrics Keeping Up With Today’s Growing Healthcare Complexities with Robert Kowalick - Part 1

Episode summary

Show notes

In this episode of Rehabbing Your Revenue Cycle Podcast, host Robert Kowalick , Founder & CEO of Revenue Cycle Solutions, LLC and Ascend Solutions, LLC , discusses the importance of must-have revenue cycle management metrics. Robert explains how understanding key metrics is essential to improving financial outcomes in healthcare organizations. He emphasizes the critical need to have the right raw data from which calculations and metrics can be transformed into powerful analytics to guide planning and actions in healthcare businesses. Listeners will learn about innovative new metrics and analytics like ADO Score, Objective Risks Scores, Payer Mix Scores, Coding Scores can provide actionable intelligence for improving revenue cycle performance. Robert also shares real-world examples and practical strategies for reducing complexities in revenue cycles and why this needs to be the central focus of all RCM operations. By creating the right data, metrics and analytics, processes can be optimized, and healthcare businesses can enhance cash flow, and build more financial stable and scalable businesses. As a top physical therapist and years of experience as a private practice owner, Robert transitioned into revenue cycle management after building and selling his own multi-location physical therapy practice. He now focuses on helping other healthcare providers optimize their businesses through a better data foundation, time analytics and process optimization. Robert’s expertise in both patient care and business operations has allowed him to create effective systems and strategies for improving revenue cycle performance. In this episode, Robert explains how building a foundation of data and data analytics is key to business improvement. Sequencing matters - build the foundation first to reduce complexity and enhance scalability. Stay tuned for part 2, where we’ll explore solving the challenges of revenue cycle complexity to build a more efficient and profitable practice. Parts 1 and 2 of this episode provide the context for the next episode when Robert interviews Jennifer Frigault, the former head of data and strategy for USA Today Networks. Expect to Learn -How understanding and tracking key revenue cycle metrics can improve financial outcomes for healthcare practices -Why raw data and simple calculations are the foundation for creating more meaningful metrics and analytics -What raw data, calculations, metrics and analytics are must haves for any revenue cycle dependent healthcare business -Why aligning all team members across the entire revenue cycle organization is critical to success and how to do it. -How optimizing revenue cycle processes through data-driven insights can lead to a more profitable and scalable healthcare business. Timestamps: [00:00] – Teaser [01:40] – The Four Phases of Revenue Cycle and Today’s Focus [04:23] – Why Raw Data Is the Foundation of Every Meaningful Metric [06:38] – Structuring Payer Classes Correctly to Improve Visibility [11:28] – Relative Metrics: Connecting Payer Mix to Days in AR [15:38] – Why Revenue Per Visit Can Drop Even When Things Are Going Well [24:04] – How AI Will Redefine Healthcare Administrative Roles [32:01] – Calculating Average Days Outstanding and Introducing the ADO Score [41:04] – Revenue Per Visit Score: CPT Coding and Payer Mix Company LinkedIn: 👉 Revenue Cycle Solutions, LLC - https://www.linkedin.com/company/revenue-cycle-solutionsllc/ 👉 Ascend Solutions, LLC - https://www.linkedin.com/company/ascend-solutions-llc-co/ Company Website: 👉 Revenue Cycle Solutions, LLC - https://revenuecyclesolutionsllc.com/ 👉 Ascend Solutions, LLC - https://ascendsolutionsllc.com/ Follow Robert Kowalick on: 👉 LinkedIn - https://www.linkedin.com/in/robert-kowalick-610502102/ Follow Rehabbing Your Revenue Cycle Podcast: 👉 Youtube: https://www.youtube.com/@RehabbingYourRevenueCycle 👉 Facebook: https://www.facebook.com/RehabbingYourRevenueCycle/ 👉 Instagram: https://www.instagram.com/rehabbingyourrevenuecycle/

Are Your Revenue Cycle Metrics Keeping Up With Today’s Growing Healthcare Complexities with Robert Kowalick - Part 1

Episode summary

Show notes

Keep going

It’s About Time: How Time-Based Billing Intelligence Data Can Maximize the Value of Your Practice (Part 1)

How Time-Based Billing Intelligence Data Becomes the Basis for Reducing Revenue Cycle Complexity and Improving Revenue Cycle Outcomes (Part 2)