Warbird’s revenue cycle optimization and central business office team redesigned the revenue cycle from end-to-end, reducing unbilled/Discharged Not Final Billed (DNFB) accounts from $1.3 million to less than $90,000; improving the initial clean-claim rate from 25% to 76% over four months; and helping second-quarter cash receipts rise nearly $1.2 million year-over-year.
Warbird implemented a comprehensive denial-management program that reduced cardiology testing denials by 90%, while improving coding, pre-authorization, physician documentation and a payment process that finally works the way it should for the organization.
Warbird was asked to provide a comprehensive financial and operational turnaround. Working shoulder-to-shoulder with the client’s team across finance, revenue cycle, managed care, physician enterprise, 340B, labor and supply chain, the firm helped drive a $96 million improvement in operations over the prior year and $56 million improvement in cash collections over system goals during the first six months of the engagement.
Warbird Healthcare Advisors serves client partners across the country, offering solutions in performance improvement and turnaround, transitional leadership and CFOs, physician enterprise and payor relations, to fit the needs of hospitals and health systems that range from rural and remote critical access hospitals to large, multi-region academic medical centers.
Clients initiate their work with Warbird from different circumstances, objectives and balance sheets; however, their challenges often share certain underpinnings, which confront most hospitals and health systems: skyrocketing labor and supply costs, tightening legislative and regulatory restrictions, shifting demographics, ongoing workforce shortages and intense payor pressure and compression.
As Warbird continues engaging with healthcare providers to address these issues, and more, from a variety of contexts and approaches, three recent examples represent the scope and commonalities facing healthcare operations – and the potential for successes.
The sole emergency department for its county, a West Coast critical access hospital faced mounting financial pressure, with accumulating operating losses, languishing accounts receivable and unbilled/Discharged Not Final Billed (DNFB) claims tied up with millions in potential cash.
With Warbird’s expert practitioners, they were able to stabilize operations, improve collections and lay a foundation for sustainability. Warbird’s Revenue Cycle Optimization and Central Business Office team redesigned the revenue cycle from end-to-end and:
Notably, within four months of the engagement, the hospital experienced its first profitable month in three years. The turnaround success was further indicated by:
Amid an exploration for a strategic partnership with another health system, a community healthcare provider – which maintains multiple campuses, a network of outpatient clinics and an employed physician practice – faced a migration of operational talent, resulting in the loss of institutional knowledge and disrupted continuity of business administration.
Warbird’s Revenue Cycle and Central Business Office practitioners stabilized cash flow and rebuilt critical revenue cycle processes, including controls over orders and a comprehensive denial management process with historical trend analysis, root cause identification and process remediation.
Process results:
A multi-billion-dollar, not-for-profit academic health system with services spanning several states approached Warbird shortly after selecting a new CEO. Leadership recognized the need for a comprehensive financial and operational turnaround, and they turned to Warbird for operational advisors with experience and expertise in identifying and executing on performance improvement opportunities that would work in tandem with the established health system team.
Practitioners with Warbird’s Performance Improvement & Turnaround service, as the health system’s performance improvement implementation partner, formed a dedicated operational improvement team that addressed functional areas such as:
The approach resulted in:
