RMD Benefits
Overview
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Benefits
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Development Process
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Financial Impact
- Potential Two to Six percent (2% - 6%) Increase in Net Patient Income: the by-product of both transactional review and process improvements.
- Three to Five Hundred Thousand Dollars ($300K - $500K) per Revenue Management Department Member: the average annual net contribution to the bottom line per associate of a mature RMD.
- Substantial Reductions in Consulting Expenses: an internal Revenue Management Department reduces the expenses of, and dependency on, consulting vendors.
Operational Advantages
- Rapid Ramp Up: Integrated Revenue Management facilitates recruiting and provides professional, residential, and on-site training -our revenue management experience and proprietary training programs will save you valuable time and substantial income.
- Comprehensive Metrics to Benchmark, Track, and Trend Results: Integrated Revenue Management supplies customized databases for all transactional review needs along with a dedicated server to support the software.
- Long Term Commitment: a multi-year relationship to support and sustain the development and maturation of a fully functional and successful Revenue Management Department.
- Proven Track Record: Integrated Revenue Management's performance record validates both its claims and its methodologies.
Organizational Transformation
- Paradigm Shift: revenue is a by-product of clinical events realized through administrative processes.
- Balancing the Budget: increasing income through effective revenue management reduces drastic cost-cutting measures that threaten critical services.
- Substantial Reductions in Consulting Expenses: an internal Revenue Management Department reduces the expenses of, and dependency on, consulting vendors.
- Creating Slack: enables associates to exercise critical thinking skills, working heads-up rather than heads-down.
- Corporate Culture: moves the organizational paradigm from "Revenue Happens" to "Managed Revenue."