Strategy & Operations Consulting
Healthcare Margins strategy and operational consulting practice provides a planning approach which employs our depth of knowledge regarding the business challenges healthcare providers are facing to improve business and clinical processes, re-design workflow's, facilitate organizational change in the areas of finance, revenue cycle, clinical business and transformation and information technology optimization.
Healthcare Margins strategy services include strategic planning at the healthcare delivery system, academic medical center, and clinical program levels. Our functional work includes areas such as ambulatory care, inpatient, physician practice and program development, faculty practice and program development, merger and acquisition and organizational development and governance.
Business Intelligence and Analytics
Healthcare Margins provides strategy and financial consulting assistance from analysis of your business intelligence needs, development of executive dashboards, to procurement and implementation assistance around analytical solutions to capture the information needed to better manage your organization.
Business Process Outsourcing & Evaluation
Strengthen your competitive advantage with strategic outsourcing
To cut costs, some healthcare organizations hastily outsource functions and processes wholesale, not accounting for how strategic that function or process may be. Later, they discover these functions are critical to adapting to market changes and retaining competitive advantage. As a result, cost savings from outsourcing quickly vanish.
Your sourcing decisions should be made in the context of your evolving marketplace and business objectives. That’s why leading organizations are adopting strategic outsourcing, an outsourcing approach that focuses on long-term business needs and strengthens competitive advantage by selectively outsourcing specific IT functions. We often see outsourcing relationships that are purely a labor arbitrage but really do not provide any strategic value to the healthcare organization. Eventually these relationships become a “no-win” arrangement for both parties.
Realize Dramatic Cost Savings
Our Strategic Sourcing solution, which ranges from core IT infrastructure and data center services to asset management and business continuity services, can help you:
- Quickly achieve a greater return on investment
- Realize dramatic cost efficiencies
- Enhance your organization’s agility and responsiveness
- Manage the risk associated with giving up control of your functions and processes
Using our extensive experience in conducting outsourcing evaluations and implementations, we can assess your current environment to identify ways to reduce operational spend and accelerate the realization of your objectives. Moreover, we can identify the critical functions that should remain in-house, as well as those that can be outsourced. Finally, we work with you to develop a detailed business case that:
- Specifies key requirements
- Determines the investment required to move forward
- Outlines the potential savings
Strengthen the Performance of Your Organization
With Healthcare Margins Strategic Sourcing solution, you can:
- Improve operating performance — Reduce overhead by retaining only those functions that are considered strategic.
- Refocus on innovation and growth initiatives — Free up important resources and focus on those activities that matter most to your business.
- Improve capabilities — Gain access to high-quality talent, a competitive market for services, experience and intellectual property on a global level and at a lower overall cost.
Operational Process & Workflow Redesign
Healthcare Margins offers comprehensive solutions that addresses the interaction of people, processes and technology, Business Process Management (BPM) is more than eliminating paper or automating the work. BPM is to processes as Six Sigma is to manufacturing: It makes organizations focus on what people and pathways are most important to fulfilling a process, how to handle process exceptions with a fail-safe element, what the process can deliver, and ensuring consistent, predictable outcomes.
Healthcare organizations have invested heavily in systems that fulfill core functions and comply with HIPAA. But what happens when those systems are presented with an exception or other unpredictable event? For example, if provider reimbursements are delayed because of discrepancies between insurers, how easily do these get processed? In many cases, they are handled manually or sometimes claims follow-up is not handled at all, which can dramatically slow down cash flow.
Healthcare Margins solutions extends the functionality of these systems by automating the front end of processes, integrating the back-end systems and streamlining the whole activity. With the process handled entirely through the system, progress can be tracked, and compliance with best practices is ensured and proven through a detailed audit trail. The end result is that it lowers the organization's operational costs and tees it up to improve revenue.
Revenue Cycle Optimization
At Healthcare Margins, we understand that the revenue cycle is where patients truly become customers and where hospitals and physician groups most clearly resemble businesses. Running a business successfully means making the most of revenue.
Our revenue cycle solutions run the gamut from innovative revenue cycle process optimization methodology like “More-Margins” to the dynamic, hands-on skills of implementation consultants who understand revenue cycle processes and have experience implementing revenue cycle solutions.
Choose Healthcare Margins to service your revenue cycle needs. Our proven management and IT solutions will ensure that you don't just run a good hospital—you run an exceptional business.
ICD-10 Auditing & Compliance
5010 Transactions Compliance
Clinical Transformation
Clinical Transformation Management is a structured process to redesign workflow's, implement best practices, and adopt technologies that integrate resources and standardize clinical operations in support of specified improvements towards clinical, operational and financial objectives. Clinical Transformation Management is a structured, culturally sensitive process to redesign work flows, implement best practices, and adopt technologies that integrate resources and standardize operations in support of specified improvements in clinical, operational, and economic objectives.
Healthcare Margins clinical transformation management processes are carefully designed to avoid the pitfalls and historical challenges associated with the implementation of clinical information systems, including electronic medical records (EMR), computerize physician order entry (CPOE) and picture archiving and communications systems (CPOE). Our approach is away from the “big bang” approach to large complex implementation project and more towards dividing an implementation into a logical approach of smaller implementation projects to reduce the risk of failure.
