Switching billing systems is no small undertaking

Every billing system conversion is part of a larger initiative to drive long-term efficiency into the health system in order to remain competitive, improve communication across the organization, boost patient loyalty, realize cost savings and improve cash.

Yet, system conversions are multi-dimensional, confusing and expensive on a good day. Getting it right requires protecting your cash, training your staff, and perhaps most importantly finding a trusted partner.

The Challenge

It’s typical for a healthcare organization to focus its efforts and attention on the design, implementation and training for its new system and to pay less attention to the aging A/R in the legacy system.

As a result, cash flow takes a blow. Cash collections in the month following the conversion can dip more than 20%, and one study reported that by the end of the conversion, the total cash shortfall averaged $168M among US hospitals.

The Solution

Let’s handle your wind down right

Having a wind down strategy is invaluable during a conversion. More specifically, leveraging the services of an extended business office to work accounts while you transition internally enables you to focus on implementation, fine-tune the system to perform optimally, and train your staff. Not coincidentally, it also helps prevent dips in cash.

Let’s protect your cash

MediRevv uses a phased, tiered approach to drive your cash performance prior to and during system conversion. We provide effective collection and resolution strategies specific to your legacy A/R system, allowing your internal resources to focus on the implementation, training and utilization of the new system.

Leading up to the conversion, we help you focus on your receivables to build up cash reserves for the potential dip in cash collections. After the conversion, we put our focus and resources toward liquidating receivables completely from your legacy systems.

Spotlight: An Epic conversion gone right

Many providers have undertaken a “major move” between patient accounting systems, but our client’s decision to switch was accompanied by a resolve to maximize efficiency and productivity during conversion. That resolve required a partner.

MediRevv worked the day-60 A/R rundown operation in the original system—three large placements as well as daily placements totaling 139.8K invoices valued at $97.8M. This freed our client’s staff to successfully implement the new system and handle newer balances in Epic.

Together, we sprinted toward our shared goal of sun-setting the prior system, a mere 10 months after the first placement of accounts with MediRevv and achieving a liquidation rate of 100%. With $12.4M added back in to its bottom line, our client now enjoys a more viable, cash-healthy revenue cycle to compliment its new patient accounting system.

We already know your system

For your peace of mind, we already know the patient accounting system you’re moving away from and the one you’re moving toward. Our comprehensive knowledge and proficiency across systems brings unmatched versatility to each project.

Testimonial What Our Client Said

COO of a premier academic health
science center

MediRevv helped us maintain our cash flow through our conversion by successfully liquidating 99% of the A/R placed, exceeding all cash collection projections.

Elyse Gates

VP, Revenue Cycle at Northeast Georgia Health System
There are two factors driving the success of this particular revenue cycle project at NGHS with MediRevv: the customer piece has been very strong, and they’ve done an excellent job collecting for us.
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