The Healthcare Financial Management Association (HFMA) defines Revenue Cycle as "All administrative and clinical functions that contribute to the capture, management, and collection of patient service revenue." This includes the entire life of a patient account, from creation to encounter utilization to final payment.
It is important for healthcare providers to ensure that revenue cycle management (RCM) continues to function properly during their Epic implementation, and that core RCM processes are appropriately integrated with Epic’s functionality.
To achieve this positive outcome, here are 6 best practices to support this goal:
Review and optimize your RCM processes -- take into account any changes necessary to utilize Epic workflows, and avoid carrying forward any inherent process weaknesses or errors.
Ensure all charge description master (CDM) codes are up-to-date and consolidated -- especially if you are undertaking a multi-facility implementation.
Establish an updated data governance program to manage the Epic build process, related to charge capture and revenue management.
Implement work practice changes to optimize RCM. This includes modifications due to both Epic functionality as well as daily, non-Epic procedures.
Provide financial and clinical staff with timely feedback -- using metrics, dashboards, and reporting tools -- to quickly detect problems with RCM.
Provide customized training to ensure your staff can efficiently and accurately capture data related to charges. While upfront training is key, on-going training and feedback will keep the process running smoothly.
The Bottom Line
If planned and managed correctly, implementing Epic can be an exceptional opportunity for healthcare systems to optimize their RCM processes and leverage gains immediately after go-live.
To learn how to optimize your transition to Epic, contact us today. Our consultants are Epic certified, and have in-depth experience supporting healthcare systems and providers at every stage of Epic deployment.