Signature Performance has extensive experience serving healthcare systems within the VA, DHA, and commercial sector. Our team is passionate about implementing cost-effective revenue cycle services that support providers and their patients. As a full-service revenue cycle business administration partner, we offer a wide variety of provider-based services. Our state-of-the-art processes allow us to tailor to each of our customers’ unique administrative challenges to ensure that providers are paid properly and in a timely manner for the care that is administered. Read on to discover how our team can help simplify some of healthcare's most complex processes while providing ongoing support to providers.
Reducing High Administrative Costs
The rising costs of administrative tasks is a burden the healthcare industry has been battling for many years. In the various studies that track healthcare administration costs, it is common to see that the United States spends almost double in this area when compared to other high-income countries on medical care.
These essential, but costly, administrative tasks include all activities related to coordinating health and medical services, such as scheduling, billing, medical record transfers and claims processing. Besides improving the overall healthcare experience from scheduling an appointment to paying for the treatment, lowering administrative healthcare costs would provide the opportunity for reallocated funds to be put toward innovative research in AI and machine learning technology. With new medical innovation and IT advancements, the quality of care, health outcomes, and overall satisfaction for both providers and patients would greatly increase.
Our trained industry experts take great pride in our team’s ability to work quickly and effectively to solve some of the biggest revenue-based problems facing the healthcare industry today. When it comes to measurable growth, one of the best places to start is to address areas where consistent errors are being made and revenue is being lost. Once areas of improvement have been identified, measurable growth can begin to take place.
Preventing Fraud and Abuse
Much like healthcare administrative costs, fraud and abuse are areas that can quickly cause financial stress for healthcare systems. In order to prevent fraud and abuse from occurring, providers must implement a compliance program that tracks ever-changing industry regulations and streamlines the medical coding and billing process. Developing this compliance program can be a daunting task for some providers, especially practices that a short staffed.
Outsourcing these tasks can be crucial to a provider's success and an effective way to resolve financial challenges. However, it's natural to have concerns about how outsourcing revenue cycle management (RCM) may affect your current staff or internal communication efforts. Our team has found that oftentimes communication efforts are improved during the process, and current employees can be reallocated to areas of the business that are more complex and require more attention in order to improve the healthcare experience as a whole.
Navigating New Technology Implementations
When it comes to the healthcare industry, the more you can simplify any process, the better the experience is for providers, payers, and patients. However, in order for a new technology to be successfully adopted, it’s imperative to ensure that the provider’s feedback is included in the development and design of the solution. By incorporating provider input, the solution becomes more intuitive, user-friendly, and adaptable to the provider’s day-to-day experience, which greatly increases the likelihood of a successful integration. This collaborative approach not only improves efficiency but also enhances overall satisfaction and outcome for providers and patients. Partnering with an organization that not only stays up to date on the latest industry trends and technologies but also anticipates future developments can help healthcare systems strategically position themselves for long-term success. This forward-thinking approach ensures that healthcare systems of any size can remain adaptable and competitive in an ever-evolving landscape.
Signature Performance is Transforming Healthcare
Healthcare administrative costs are at an all-time high in the United States. At Signature Performance, our team is committed to lowering administrative costs and improving the payer and provider experience and financial outcomes through our tools, technology, and industry expertise in both the public and private sectors.
The Signature Performance team is committed to tailoring our custom solutions to meet your healthcare administrative needs. With our extensive knowledge of EHR implementations and in-house technologies, our team has the expertise to help your organization minimize technological complexities and allow providers to focus on what they care about most, their patients.
To learn more about how Signature Performance can optimize your financial performance, contact our team today.