Success Stories: REVENUE CYCLE TRANSFORMATION

 

Nordic assesses client's options for revenue cycle tools and implements recommendations

Results

  • Improved scalability and maintenance of 100+ reimbursment contracts
  • Built 2,000+ patient estimate templates in Epic, reducing vendor fees by $1.6 million
  • Using discrete contract calculation data in Epic, effectively monitored payor performance and payment variances and improved late charge rebill automation
  • Increased price transparency with automated price estimates at order scheduling and supported contract modeling

Epic Modules

  • MyChart
  • Prelude
  • Resolute HB
  • Resolute PB

While preparing for 2021 price transparency guidelines, a multi-specialty health system was considering whether current bolt-on revenue cycle tools or existing Epic functionality would best meet its requirements. The organization was looking for for more accurate patient payment estimates as well as opportunities for underpayment recovery and system automation while meeting patient experience goals and reducing IT vendor costs.

Nordic provided a rapid assessment of the client’s current-state contracts management and price estimate bolt-on solutions, including impacted workflows, compared to existing Epic functionality. Nordic delivered a detailed prioritization of opportunities ranked by value, effort, and risk; a SWOT analysis of findings; and a five-year net present value projection of financial return if the organization chose to convert current systems to Epic and modify impacted workflows. Nordic then implemented those recommended opportunities.