BRHS provides an Operations Review of the entire healthcare organization. This includes a review of general operations, an analysis of all financial services, an evaluation of the charge structure, a review of the facility’s Cost Report, and recommendations for revenue enhancements and cost reductions based on current utilization.
The goal of the review would be to provide the Governing Board and Administration with a thorough evaluation of operations and financial performance to act as a blueprint for the future. Some of the areas of review would include:
- Conduct interviews with Hospital Board members, Administration, all Department managers, the Medical Staff, and any two additional individuals identified by the Board (i.e. the director of the Chamber of Commerce, the Mayor)
- Conduct a revenue cycle management review to evaluate financial performance that includes:
- Accuracy of patient billing
- Coding
- Accounts Receivable
- Collections
- Charge capture
- Management and operations
- Identify lost income due to coding errors and omissions, lost charges, and improper billing
- Review financial reporting procedures
- Evaluate Inventory control policies and procedures
- Review of the purchasing agreements and how they are being utilized
- Review the leases, contracts, and purchase agreements of the Hospital
- Review pricing formulas
- Compare financial operating indicators against national/regional standards
- Review the two most recent Medicare Cost Reports to evaluate the allocation of Hospital overhead and the profit/loss position of each department of the Hospital
- Provide an analysis of overall financial performance
- Review contracted services for reasonableness and accuracy of billing
- Evaluate current reporting structure at the facility and review organization chart
- Assess flow of operations
- Evaluate admission patterns, surgeries, and financial performance by physician
- Review of the staffing budget by department as compared to actual staffing by department
- Review of the staffing by department as compared to actual volume for the department
- Review of efficiency and production by department
- Review Hospital staffing standards, scheduling, and assess productivity
- A review of the Hospital budget by department for the past FY and a comparison to the actual expenses and volume for the current FY
- A review of the overall expenses by department
- A review of the overall expenses by department as compared to volume and necessity
- An evaluation of the profits and loss by each Hospital activity and their financial viability
- Evaluate individual service performance/profitability and analyze the profit/loss statement of each area of the Hospital
- Assess the market and identify strengths and weaknesses of the facility
Upon completion, a written report will be presented to the Governing Board and Administration outlining potential problem areas, recommending solutions to the problems, and the financial / operational impact of the solutions.
BR Healthcare Services also provides implementation support to assist the facility in making the recommended changes necessary to solve the identified problems. BRHS will work with the Hospital to implement staffing changes (adjust staffing levels), establish Product Evaluation and/or Charge/Chart Review Committees, develop a Centralized O/P scheduling & Registration service, or any of the other recommendations outlined in the review. BR Healthcare Services is always willing to “go the extra mile” for the client. Working in conjunction with existing staff to implement recommended change is just another way the company can better serve the client and accomplish this goal.