Revenue Management Evaluation
RMEval™
IRM's RMEval™ evaluates the effectiveness of your hospital's revenue cycle management program. This four-week process uses a combination of comprehensive questionnaires, a two to three day on-site visit with focused key employee and department interviews.
IRM creates targeted financial performance and productivity standards by comparing hospital results to our four million transaction record database and a library of over 100 hospital assessments.
The results are reported for each of the three audit disciplines (charge capture, payment, and coding) and validated with the hospital's major insurance contracts. The resulting report provides an accurate picture of the following:
- Effectiveness of current revenue management efforts
- Remaining economic opportunities available from current patient encounters
- Additional investments required in personnel and training to meet best practice standards
- Return on investment related to those investments
- Next steps and recommended timelines
Benefits
- Proven experience
- Low-cost investment
- Short-term process
- Benchmarked results
- Training protocols
- Recommendations that work!
