What's Inside your Revenue Cycle Workflow Tool
As operators, the Currance team recognized the need for a revenue cycle workflow tool that does more than create work queues based on criteria. The goal was to help our customers collect more earned revenue with the same, if not less, human capital resources. This includes giving operators the capability to look across all accounts, continuously prioritizing and measuring their risk “not to collect” daily—a task there is no manual way to accomplish.
The Right Account at the Right Time in Real Time
The Currance Workflow tool continuously manages A/R inventory in real time using a patented 11-factor algorithm. Currance has been working with customers over many years to continuously prioritize revenue cycle inventory data. Rather than focus on a few criteria to set up work queues, this tool manages the priority of each account before work is assigned for the day.
The traditional approach to setting up and assigning work queues relies on criteria such as insurance provider or claim amount. These workflows are static and lack prioritization and risk segmentation across multiple factors. The Currance Workflow algorithm continuously monitors and prioritizes all accounts at once, separating out inventory that needs to be worked today so those claims are brought to the front of the queue. This real-time analysis provides high certainty your whole team is handling the most-critical, highest-risk, highest-priority accounts at the right time, rather than relying on subjective decisions to choose which accounts they work.
Currance Workflow Drives Efficiency
Currance Workflow’s automation and optimization capabilities with features such as dynamic job aids add substantial value by boosting efficiency 15%. But the biggest gain, 20%, comes from consistently putting prioritized accounts in front of the right team member at the right time.
So to answer the question of this blog, “What’s inside the Currance Workflow Tool?” Currance built an algorithm that provides efficiency gains to the tune of 20% before work has even started for the day. By looking at all accounts at the same time and continuously calcuating and prioritizing accounts, the revenue cycle team is certain to work the right claims at the right time, reducing risk and increasing productivity at once.
To find out more about Currance, contact us at: firstname.lastname@example.org
Using patented tools, a unique approach to measuring yield, operational playbooks and highly trained flexible workforce solutions, we help healthcare organizations and revenue cycle leaders sustain performance improvement. We integrate our technology with your existing systems and empower teams to find solutions that can increase earned revenue 2%-9%, accelerate payment of earned revenue and lower costs to collect.