By Adam Halberda, Chief Commercial Officer
The traditional approach to outsourcing revenue cycle management staff can feel like a black box. At times, it can lack the visibility of a true partnership. Or it doesn’t offer the flexibility in managing performance. There can often be a loss of control, fixed scope, pricing and duration. Currance wanted to change that, so that’s why we built a hybrid model.
We do what’s right for our clients to drive performance and give them what they need. We provide tools, a unique methodology, consulting services, staffing and workforce development. But we are different because we give all those differentatiators to our customers to leverage in-house. This way when our people resources are no longer needed or are scaled down, the rev-cycle teams can benefit from all of the performance and efficiency gains we built to optimize our outsourcing business as well. We customize a performance partnership with our clients to drive meaningful change that lasts the test of time and does not create a loss of control or a start from scratch problem when working with another staffing vendor.
We take an analytical approach. By focusing on data, we figure out what needs to be done. We let the data dictate where staffing and resources should be allocated. We understand the big picture of current performance, past performance and potential future issues with a daily root cause analysis process we’ve taken from the manufacturing industry. We see the revenue cycle as a process that produces an output, cash collection on earned revenue (yield).
At Currance, we show our clients what actions are being taken and are not being done each day. That way, we can increase overall revenue cycle efficiency and effectiveness. We focus on continuous improvement and solving process problems. We know that if we fix the process failure, we can help things run more smoothly. Then, we can help clients adjust their vendor support.
My message to revenue cycle leaders: You can always improve performance by adding more cost because it’s just a matter of hiring more staff, more tech or more vendors. But our focus is on increasing the efficiency of the revenue cycle for more sustainable performance. Sometimes, additional resources are needed, but we consider this a brute force approach. We work with clients to build a revenue cycle by design that does more with less. We’re laser-focused on sustained performance improvement; not adding additional cost.
To find out more about our approach we call Hybrid Revenue Cycle management, shoot us an email (firstname.lastname@example.org) to discuss your people, process, and technology needs for increasing yield performance.