Healthcare revenue cycles remain complex
In the report, KLAS states that “Healthcare revenue cycle is complex: compensation for care can come from any of several different payers, and policies are constantly changing. When providers decide to place the care of their financial stream in the hands of a revenue cycle services (RCS) firm, they need that firm to be, first and foremost, adept at delivering on key indicators. Providers also need their RCS firms to fit seamlessly into their culture, whether they are engaged long term or short term, for the complete business office (RCO) or for individual parts of the revenue cycle (EBOS).”
KLAS found that “PwC stands out for being a strategic partner. Many customers originally contract with PwC to do specific, temporary EBOS work to clear out certain types of accounts (for example, accounts over 90 days). Citing the outstanding quality of PwC’s service staff, the firm’s innovative tools and technologies, and their strategic expertise, some continue to use PwC’s system after their EBOS engagement is over and to maintain a relationship with PwC; others are considering using PwC to clean up legacy systems and help perform revenue cycle functions while new systems are implemented.”
KLAS calls PwC a “Performance Leader with Most Validated Commercial Work” and states that “PwC works to continuously improve indicators, sometimes even beyond what clients expect.”
In the report, a senior director of revenue cycle operations said: “PwC has actually exceeded our metrics. We set a goal of what we thought cash collections should be, and PwC has far exceeded that goal. The best thing about the extended business office people is that they are knowledgeable. They bring forward things that we can work on and resolve together.”
A director of patient financial services goes on to say that, “I think that if a provider is looking for a partner who understands their business and who is willing to listen honestly and adjust to their needs, PwC is a great firm to choose. My experience with PwC’s virtual business office has been above and beyond anything I have ever experienced with other vendors and has met my highest expectations.”
Nikki Parham, National Revenue Performance Management Practice Leader at PwC , said: “We are proud to be recognised as a leading extended business office services provider. Our aim to build long term relationships with all of our clients and to work continuously to improve indicators and meet their expectations. We want to help clients with their healthcare challenges and can bring a world of multiple-industry experience to all of our healthcare engagements.”
For more information about PwC’s healthcare teams, visit www.pwc.com/healthcare
To find out more about how PwC has been evaluated by leading business, technology and industry analysts visit www.pwc.com/analystviews
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Robert DonnellyPwC Global Analyst RelationsUnited Statesrobert.firstname.lastname@example.org+1 917 471 3355