Revenue Enhancement and Cost Reduction
Focus on reducing costs and maximizing efficiency, by streamlining processes, improving patient flow, and reducing waste. This will help to increase margins and improve profitability. Cost-cutting and revenue-generating initiatives, large and small, require precision. Edgility’s Revenue Enhancement and Cost Reduction brings scalpel-like precision to enhancing revenue and reducing costs.
EdgeRECR enables healthcare organizations to stretch their thinking toward novel solutions for revenue enhancement and cost reduction. This strategy and growth plan leverages data analytics and technology to better understand and manage the cost of care, and to identify areas for improvement.
Hospitals should strive to provide high-quality care and improve patient outcomes, by investing in technology, training, and continuous quality improvement programs.
For example, EdgilityRECR was able to identify the level of care mismatches and orchestrated the ‘levers of action’ to realize a total of $1.23 million in savings in telemetry at a Cleveland-based Health System in just 12 months.
Analyze relevant and actionable information across systems to create value elements specifically for providers, support services, and administrators.
Design and Implement
EdgeRECR cuts across the care continuum for optimal value alignment. The following examples have been successfully tested with a specific value focus.
Access and Arrival Management - Revenue Enhancement
Level of Care – Revenue Enhancement
While EdgeRECR themes create horizontal alignment along the continuum of care, transformation themes provide a framework to impact outcomes. The following examples have been successfully applied.
CI focuses on creating organizational "stickiness" around the transformation elements. Through the Smart Operations Center, physicians and nurses can focus on clinical outcomes, quality, and patient experience, while administrators can focus on the optimization of operations.