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Clinically Focused Revenue Cycle

Achieve Your Financial Goals

Soyring’s experience has aided our clients in managing their strategic and financial decision-making processes efficiently and effectively. Our team works alongside your hospital’s leadership and administration to develop and implement financial plans that connect your hospital’s mission to measurable financial goals and distinguish which objectives are financially sustainable given the hospital’s financial capabilities.

Using a combination of our extensive experience, benchmarks from comparable hospitals, and best practices, we create action plans that will enable your organization to realize financial opportunities by increasing patient access to services, maximizing utilization of current resources, and exploring the addition of new services.

Read more about our focus areas and offerings below:

Admitting & Registration
  • Scheduling/Pre-registration
    • Accurate and efficient scheduling of physician/provider ordered service
  • Patient Access/Registration
    • Ensure payer requirements in place prior to service (e.g. pre-certifications, authorization and/or referrals)
    • Process for identifying uninsured/underinsured for financial counseling referrals
Budget Analysis

Soyring’s financial consultants will obtain the hospital’s current proposed budget for review and assess the facility’s current budgeting process. Our consultants then analyze the budget variance year over year by line item.

Each budget category is assessed based on current practices, projected growth, and work load. We look at each individual departmental budget and how it relates to the hospital budget. During our review, we assess the number of line items and any costs related to a department, taking into consideration costs that we typically find within that specific department.

Soyring Consulting will analyze:

  • Labor costs
  • Materials costs
  • Non-labor costs
  • Variances year over year
  • Volume projections
  • Capital budgeting
Case Management

Case management incorporates patient care guidelines within a multidisciplinary and collaborative practice setting, emphasizing high-quality care for optimal outcomes, patient throughput, resource management, and patient and staff satisfaction. Elements of our Case Management consulting services include:

  • Appropriateness of admission to minimize reimbursement denials (including observation status patients)
  • Care planning and discharge coordination to minimize avoidable extensions of stay that may not be reimbursed
  • Patient-oriented and outcome-focused approach emphasizing the delivery of high-quality patient care
  • Focus on reducing waste and over-utilization of resources to meet financial and cost savings initiatives
  • Outcome monitoring and measurement integration with the hospital’s existing Quality Management Program
Chart Audits and Clinical Records Review

Our chart audits are conducted in three stages: initial data review, on-site assessment, and off-site report composition. The central goals of the audits are to ensure compliance to regulations and appropriate reimbursement.

Read additional details about Soyring's approach to helping your facility improve charting and quality »

Clinical Documentation and Charge Capture

Soyring financial experts can assess the accuracy, completeness, and timeliness of patient documentation, clinical plans, and the policies and procedures of conducting clinical documentation as well as the accurate and timely identification of charges associated with provided services.

  • Health Information Management (HIM)
    • Accurate and timely coding of documented patient condition
    • Verification of coding against actual clinical documentation to ensure compliance with financial and regulatory guidelines
  • Patient Accounting (Business Office)
    • Claims preparation and submission
    • Financial counseling
    • Credits and collection functions
    • Denial management
    • Claims/payment follow-up

Featured Resource:

FREE WHITE PAPER

5 Core Processes to Improve Budgeting

“Soyring was very professional; had highly qualified people coming in and doing their job. The people had expertise in their area, whether it was measures, whether it was numbers, whether it was HR or position issues. They brought in a person that was an expert in each of those areas.”

CNO, COMMUNITY HOSPITAL

Ready to Improve Your Revenue Cycle?

Contact us today at 1.866.345.3887 or simply fill out this form & we will contact you.