RCM: Performance Assessment Overview

A Flatiron Revenue Cycle Management comprehensive assessment enables your practice to understand how to strengthen performance and your financial opportunity ー at no cost to you.

Flatiron’s team works directly with you to benchmark current performance using a lightweight three-part process. Learn more about the assessment steps and outputs below.

1. Flatiron measures your financial performance

What happens?

Flatiron starts by requesting access to your practice management system to benchmark your current financial performance. Flatiron’s RCM data and process experts confidentially and securely analyze your claims data to calculate your potential financial opportunity.

How long does it take?
About one week after receiving practice management system access.

What are the outputs?
A summary of current financial key performance indicators (KPIs) like Days in Accounts Receivable (A/R), A/R Agings, Bill Lag, and Denial Rate compared to Flatiron best practice benchmarks.
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2. Flatiron works with you to complete an in-depth operations analysis

What happens?

Flatiron RCM experts meet with your team remotely for about two hours to review billing and clinical workflows. They then pair onsite observations with the data analysis to identify process improvements, technology and data gaps, and staffing inefficiencies impacting your KPIs and revenue.

How long does it take?
Two hours meeting virtually and about a week to summarize findings.

What are the outputs?
A performance summary report with qualitative and quantitative findings.
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3. Lastly, Flatiron shares and validates findings with your team

What happens?

Flatiron reviews the performance summary report with you in an interactive session to validate findings and ensure practice priorities, nuances, and goals have been captured. The session focuses on all key findings and root causes, tactics to drive financial improvements and the potential financial opportunity for your practice.

How long does it take?
An hour or two to present findings.

What are the outputs?
Live readout of the performance summary report.

 

By partnering with Flatiron RCM, on average our practices see:


12%
increase in year over year revenue

43% reduction in days in A/R

<5% of A/R aged 120+ days

70% reduction in bill lag

Learn more about partnering with Flatiron RCM

Want to learn more about our RCM services?

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