Healthfuse Revenue Cycle Vendor Management Program
Healthfuse combines expert revenue cycle advisory services and proprietary technology applications to help hospitals and health systems build, operate, and continuously optimize their RCM vendor strategy, to maximize maximizing vendor performance, and drive bottom-line improvement.
“We’ve recently redesigned our operations model to better support our evolution to becoming a consumer-centric organization. Healthfuse helps make this possible by bringing more in-depth transparency and accountability to all of our revenue cycle vendors.”
David Salsberry, Chief Revenue Officer
HANDS-ON APPROACH
Acting as an extension of the hospital team, every partner receives a dedicated team of analysts, auditors, negotiation specialists and legal support, solely responsible for vendor performance.
- Program Strategy and Implementation
- Current and New Vendor Coaching and Remediation
- Current and New Vendor Goal Setting
- RCM Process Gaps Closure
- Ongoing Program Performance Reviews
- New Cost Saving Initiative Activation
PROPRIETARY TECHNOLOGY VENDOR METRICS
Rapidly Identify Gaps in Collections Performance
AutoAudit-Revenue Capture
- Automates and audits 100% of outsourced accounts daily ensuring all accounts are worked appropriately
- Provides customizable rules and drill down capabilities, complementing existing workflows
- Delivers real-time insights and consolidated reports, aggregating actionable insights and collections transparency
By the Numbers:
- Audits 23M accounts per week 24/7
- Average AutoAudit findings show only 40% of accounts placed are worked appropriately
Reconcile A/R Inventory to Ensure Vendor Compliance
AutoRecon-Rules Engine
- Certifies and reconciles 100% of vendor invoices and inventories instantly, identifying inventory imbalances in minutes
- Tracks historical compliance rates, gross collections and fees, identifying trends and monitoring A/R improvements
- Generates work lists by root cause, recovering inappropriate fees and inventory imbalances
By the Numbers:
- Average AutoRecon findings show 3-7% of vendor invoices are recoverable per month
Streamline Vendor Sourcing Processes to Improve Business Processes
VendorSource- Vendor and Contract Database
- Aggregates data from over 3,000+ vendors and 2,000+ hospitals, enabling best practices and benchmarking
- Sources and profiles vendors helping revenue cycle teams find and create unique value service partnerships
- Validates vendor and contract performance, comparing and matching high performers to hospital criteria, ensuring vendor and contract negotiation success
Deliver 100% Vendor Performance Transparency
VendorInsight-Performance Reporting and Intelligence
- Evaluates existing and new vendor contracts agains pricing and SLAs, driving accountability and regulatory compliance
- Analyzes account level activity utilizing a single standard calculation methodology, enabling faster decision-making
- Provides monthly, consolidated and customizable CFO and Director-level vendor scorecards, delivering actionable cost and performance analysis
Program Performance and Accountability
Healthfuse guarantees 100% success rate, ensuring every hospital partner receives immediate cash factor improvement and cost savings resulting in ROI.
A 100% SUCCESS RATE
Every hospital partner has seen cash factor improvement and cost savings resulting in ROI.
Reduce
Vendor Cost
10-20%
Improve
Collections
20-30%
Provide 100% Visability
make informed decisions
Ensure Compliance
remediate & prevent issues
Save Time
automate & extended team
11 Years
of purpose driven work
$1 Billion
in bottom-line improvement
300+
hospitals served
100%
client success rate
