RP Sanjiv Goenka Group

Sub Industry: Healthcare Providers

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How business intelligence can mitigate effects of uncompensated care

Every day we see and hear heartbreaking stories from around the world about the pandemic pressing front-line hospital staff to the brink. Much less visible are the hospital staff on the backend working tirelessly to keep hospitals afloat financially.   Hospitals are under an extraordinary amount of financial strain. Even before

3 Key Benefits of Data Analytics for Critical Access Hospitals

Hospitals and health systems find themselves in a financially precarious position, worsened by the pandemic. Critical Access Hospitals (CAHs) have faced plummeting patient volumes due to significant reduction in non-emergent care.1 All at a time when hospitals were already struggling to meet the demands from a shifting landscape of new

Rural hospital business office transformation: Top 3 focus areas

Rural hospital leaders are not new to Revenue Cycle Management (RCM) issues such as staffing shortages, higher uninsured rates, and claims reimbursement limitations. What is new is how Covid is exacerbating these challenges in new and unforeseen ways.  Servicing an older population with chronic conditions and shifting resources from high

Montefiore St. Luke’s Cornwall (MSLC) hospital improves POS collections by 125%

The challenge: Poor patient finance experience impacting bottom line revenues Montefiore St. Luke’s Cornwall Hospital (MSLC), a 250-bed not-for-profit  hospital, treats 270K patients every year and is ranked amongst the top 5% of America’s 250 best hospitals by Healthgrades. The hospital’s payer mix comprises a high mix of government and

Marcus Day Memorial Hospital (MDMH) hospital reduces charity care by 60%

The challenge: Helping patients take advantage of Medicaid expansion waiver Marcus Day Memorial Hospital (MDMH) is an award-winning rural critical access hospital with 24 acute care beds and 60 providers. A few years back, when CMS approved Montana’s Medicaid Expansion waiver under the Affordable Care Act (ACA), MDMH embraced the

Referral hospital improves Medicaid revenue by 60% with accelerated claims approval

The challenge: Improve patient peace of mind while increasing hospital revenue Our client, a major referral hospital, serves a predominantly uninsured and underinsured patient population. Having no health insurance or being uninsured means that people often postpone essential care or forego preventative care. Delaying care is a downward spiral that

The impact of patient financial experience on hospital profitability

As rising deductibles and co-pays turn patients into payers, financial interactions must be part of the patient experience equation. The financial aspect of care should not be put aside, as it is an essential component of a positive patient experience. But navigating the healthcare financial maze can create unnecessary confusion

Aspen Valley Hospital increases cash on hand by 6X

The challenge: Pressing need to optimize the revenue cycle Aspen Valley Hospital (AVH), a 25-bed community hospital, caters to the healthcare needs of the local population in a remote area. With nearly 45K outpatient registrations and nearly 8K emergency visits, the hospital generates $102M in annual revenues. Because of its

3 ways to prioritize pre-service through digital patient engagement

Patient out-of-pocket costs have been trending upward for several years now. High-Deductible Health Plans (HDHP) account for a whopping 51% of the US workforce today. Now throw the global health crisis into the mix. A year after the initial outbreak, unemployment levels remain stubbornly elevated and one in four adults

3 ways automation can optimize small balance collections

Rising deductibles are shifting medical costs to patients, making it harder for patients to meet their out-of-pocket expenses, and in turn, putting Healthcare Providers at financial risk. According to the Kaiser Family Foundation research, the average annual deductible among covered workers has increased 36% over the last five years and

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