ATLANTA, Sept. 13, 2016 /PRNewswire/ -- Windham Brannon, a leading provider of tax, audit, accounting and advisory services, today announced the launch of the Revenue Cycle Consortium, which was created to assist rural hospitals and healthcare facilities with financial challenges and revenue cycle issues.
"Rural hospitals and community healthcare facilities typically do not have access to deep revenue cycle expertise or the funding for traditional revenue cycle consulting that larger organizations do," said Valerie Barckhoff, a 20-year revenue cycle consulting veteran and principal at Windham Brannon. "However, they do still face many of the very same financial pressures that come from today's healthcare regulations, but are at a significant disadvantage due to their size and geographic locations. Since the Affordable Care Act, hospital revenue cycle management has changed significantly―between Accountable Care, ICD-10, and the Medicare Access and CHIP Reauthorization Act (MACRA), it has become imperative for hospitals to have a cost-effective revenue cycle management system in place."
The Consortium brings together revenue cycle industry leaders from across the country to give organizations with limited resources access to a wealth of operational knowledge, best practices, benchmarking, metrics development, coaching and mentorship, as well as assistance in action planning―all aimed at helping them improve their revenue cycle operations and the overall financial health of their facilities.
Founding members of the Consortium include Windham Brannon and Health Business Solutions (HBS), a denial management and revenue cycle education services firm.
According to Mike Bickers, COO at HBS, the lack of affordable revenue cycle management resources for rural healthcare organizations has put many of them in precarious financial situations.
"Many rural facilities are already in pre-bankruptcy scenarios and lack professionals on staff with the right amount of knowledge base to course correct their revenue operations to help them stem the tide. I look forward to working with Windham Brannon and the other industry experts to provide a much-needed resource network for struggling hospitals and healthcare facilities," said Bickers.
From a financial standpoint, membership in the Revenue Cycle Consortium can save organizations significant capital when compared to hiring an outside consultant. For example, the Consortium can save a hospital more than $100,000 in fees associated with the average cost of a traditional revenue cycle assessment performed by an outside consultant (estimated at $150,000-$250,000). Membership rates are based on a hospital's net revenue. However, the Revenue Cycle Consortium is offering a 50-percent early-adopter discount on membership fees for any facility that commits by September 16, 2016.
To learn more about the Revenue Cycle Consortium, please visit http://www.windhambrannon.com/Businesses/Services/HealthCare-Consulting/Revenue-Cycle-Consortium.
About Windham Brannon
Windham Brannon is a recognized leader in providing audit, tax, accounting and advisory services for businesses, not-for-profits and high net-worth individuals. While the firm's technical expertise is second to none, Windham Brannon offers clients so much more. Clients find a more proactive approach, more attention to their priorities and more investment in their relationship to ensure needs are anticipated—and met with confidence. Windham Brannon takes pride in the fact that it is re-defining the role of the typical CPA firm. Since 1957, the firm has been providing each client with exceptional proficiency, but also the personalized level of service delivered by a strong team that is driven, resourceful and well connected. Visit www.windhambrannon.com to find out how Windham Brannon is committed to offering more.
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SOURCE Windham Brannon