The RMD Development Process

Introduction  ·  RMD Benefits Overview  ·  RMD Development Process

IRM assists providers in developing the internal RMD model through a multi-step process:

1. A preliminary diagnostic appraisal in the form of either;
   1. a transactional and organizational Revenue Management Assessment or
   2. a non-transactional organizational Revenue Management Evaluation
   
   
2. Delivery of an Executive Report that provides a business plan that defines the size and composition of the RMD staff as well as a budgetary forecast with projected ROI.
   
   
3. Human Resource assistance: IRM provides all job descriptions and then assists with recruiting, screening and co-interviewing of RMD candidates
   
   
4. Professional, residential training in Carlsbad, CA and on-site at client's location
   
   
5. Sophisticated software applications to provide all necessary metrics
   
   
6. Facility planning and on-site implementation
   
   
7. Continuing long-term support and guidance with Best Practice and P.I. focus
   
   

Revenue Management Assessment — An analysis of the facility's current organizational structure as well as existing revenue management resource investments and a comprehensive review of specific patient accounts to evaluate proficiencies in the areas of charge capture, payment compliance and coding accuracy. The Assessment will provide the answer to the question: “What is the economic opportunity?”.

Revenue Management Evaluation — Similar to the Assessment but for those organizations that do not need to quantify the economic opportunity, this approach will not require transactional account review and can be completed in approximately 1/3 to 1/2 the time.

Executive Report — A comprehensive report, delivered in-person that will summarize all findings, provide the RMD business plan and project the financial and budgetary considerations. Where transactional review has been performed, a C.D. will be provided containing all audit detail for client verification and analysis.

Human Resource Assistance — IRM assists its clients to identify and recruit staff from both internal and external sources to ensure that the best available skills are present within the RMD.

Training — A proprietary, multi-disciplinary curriculum, which was designed specifically to meet the broad-based requirements of full-spectrum revenue management, is presented over eight days in Carlsbad and is followed immediately by on-site OJT.

Software Applications — The RMD model requires comprehensive metrics to benchmark, track and trend all departmental activities and generate the necessary management reports. Towards this end IRM has developed proprietary software that will produce upwards of 125 separate reports.

Facility Implementation — Space, equipment and I.T. interface must all precede actual production. IRM works hand-in-hand to prepare the organization to receive the new department.

Continuing Long-term Support — IRM'S Training and Operations personnel remain fully engaged with the RMD staff both on-site and remotely for the duration of relationship to ensure sustainable results. Annual Best Practice forums and periodic regional training seminars are part of the IRM deliverables that are designed to maximize and elevate the organization's achievement in all areas of process improvement.