Analyzing Your Revenue Analytics: How to Keep Actionable Insights at Your Fingertips-Presentation

Video Transcription

Video Summary

In a detailed session about revenue analytics and actionable insights, experts Andrew Harding from Ribbit Health and Ethan Lyle from United Musculoskeletal Partners offer deep dives into crucial metrics and steps to optimize revenue cycles in healthcare. They emphasize the importance of understanding and monitoring gross, contract, and net revenues, and discuss key performance indicators like net collection rates, aging AR, initial and final denials, and AR over 90 days.<br /><br />Ethan stresses consolidating data from disparate platforms into a unified warehouse for better reporting and analytics. Challenges include data ingestion and normalization due to inconsistent calculations across platforms. They advocate for building automated, accurate, available, and actionable reports to assist organizational decision-making.<br /><br />Key strategies include ensuring accurate contract data, recognizing shifts in payer mixes or procedure volumes, and being vigilant with cash flow timing. They highlight the importance of understanding contractual rates, applying reserve calculations for AR, and conducting thorough denial management to minimize revenue leakage. The session concludes with practical advice on improving revenue metrics, stressing the importance of identifying and addressing the most significant leakage points to maximize revenue recovery.

Keywords

revenue analytics

actionable insights

healthcare

key performance indicators

data consolidation

automated reporting

denial management

revenue optimization

cash flow