Additional information on free lab benchmarking RCM survey
By participating in this survey Apache Health can help you answer the following questions:
- What are the most important metrics (KPIs) for labs?
- What are RCM benchmarks for your particular lab?
- Why AR days isn’t the most important
- How does your billing compare to your peers in performance?
- What is a realistic specific target you should be hitting for revenue?
- What is a stretch goal that is actually achievable, i.e. someone else is hitting it?
- Would outsourcing make you more money?
- If comparing RCM vendors, which will make you the most money?
- Where is money being lost in your RCM and how much of it is recoverable?
- What are specific corrections that can be made in order to increase collections?
What is in the report that you’ll receive?
The report is typically about 10 pages long and includes:
- Baseline metrics (KPIs) for your lab
- Comparison of your metrics to other labs
- Quantification of how much (if any) more money can be realistically derived from the RCM process
- Itemized areas where you are outperforming your peers
- Detail of where additional collections can be made
- By payer
- By test
- List of issues impacting revenue that you are experiencing that other labs have resolved generating more revenue
Free, for real?
Our additional paid services are completely contingent on you making more money. If you increase your profit then we get a percentage of that upside. We are so certain that you will make more money by implementing our suggestions that we charge nothing for the survey process.
What will you need to provide to us?
Charges and collections reports (usually stripped of PHI)….we’ll take it from there.