Management turned to PCDC for help. The group has assisted many types of community-based health centers with facility building and program operations for years.Many of these community-based centers operate on slim financial margins, and their ability to support operating costs is severely hampered if they fail to collect all revenue.PCDC understands the challenges centers face in collecting revenue and addresses theseissues in the Revenue Maximization Collaborative, which BMS participated in fromFebruary to June, 2002.
THE REVENUE MAXIMIZATION LEARNING COLLABORATIVETracking, Communication, Teamwork
Revenue Maximization (RevMax) gives health facilities strategies and tools for streamlining financial processes. The goal of the program is to transform revenuecollection systems so that facilities efficiently collect all money to which they are entitled.The transformation of financial systems takes place over the course of an intensive five-to-eight month RevMax Learning Collaborative that is led by national experts. During thistime, teams of participants from different health facilities learn to:
Track the path of revenue collection in their facilities
Identify breakdowns and loopholes in the collection process
Design new procedures to make revenue collection more efficient
RevMax’s Collateral Benefits: Seamless Work Processes, Improved Morale
RevMax helps participants design solutions for managing and expediting self-paycollections, lag times between dates of service and billing, and claims rejections.The program also stresses the importance of communication and teamwork.Enhanced communication and strong teamwork help seamlessly integrate the work of thefront desk with clinical and back-office operations. This seamless process helps RevMaxparticipants generate and collect more money. Moreover, it results in a better workingatmosphere, improved staff morale, and efficient work processes that improve the qualityof patient care. These are welcome collateral benefits of the RevMax program that wereparticularly important for employees at BMS, who placed a high value on their relationships with patients and wanted to increase revenue without sacrificing thoserelationships.“The focus of the program was to improve revenue,” says Mohammed Sadique,BMS’s comptroller and deputy financial officer. “In order to improve revenue, we had to3