As hospitals are continually challenged to improve patient care, reduce costs and improve cash flow while operating on razor-thin margins, the revenue cycle — specifically receivables management — has come under intense scrutiny. With continual regulatory changes in healthcare including RAC audits and pay-for-performance, it is becoming more difficult for hospitals to stretch their dollars. Every dollar collected, either through third-party or self-pay payers becomes as critical to a hospital's survival as the quality of patient care provided. It is a compounding problem that challenges CFOs of hospitals everywhere — collecting dollars for patient care as efficiently and quickly as possible, all while trying to improve the bottom line.
At Ontario Systems, we worked with some of the nation's top 100 hospitals to increase cash flow and reduce costs, resulting in an improvement of their overall revenue cycle performance. “With such a high volume of accounts and a literal maze of systemic roadblocks, there are few industries with more pressing revenue cycle demands than healthcare,” said Ontario Systems CEO Tony Reisz. “That's why we developed Artiva®Healthcare. It's a complete, robust and easy-to-use revenue cycle management solution that helps our health care clients improve both efficiency and collections. And that's bottom-line valuable.”
Ontario Systems' Artiva Healthcare is designed to enhance rather than replace a hospital's patient accounting system. By keeping self-pay collections in-house, Artiva Healthcare enables hospitals to retain control of the patient relationship, identify trends before they become problems, reduce write-offs and days outstanding, improve productivity, increase collections and focus on patient care.
Ontario Systems also takes revenue cycle management to the next level with Revenue Performance Optimization, a suite of complementary consulting services that gives hospitals access to not only the best technologies in the industry, but the best thinking and best practices as well. It's a one-two punch that leads to knockout performance and championship productivity.
To find out how Ontario Systems' Artiva Healthcare and Revenue Performance Optimization can improve your revenue cycle management, call 800.283.3227 or visit us on the Web at www.ontariosystems.com .