Kaleida Health Receives Revenue Cycle Award
The award is designed to recognize hospitals for their revenue cycle achievements. Revenue cycle management is the process that manages the patient’s financial experience in areas such as pre-arrival, registration, coding, medical records, clinical documentation, corporate utilization, billing and collections, revenue integrity and customer service.
Kaleida Health was one of two hospitals recognized specifically for performance improvement and the organization’s significant advancements over the past year. According to HBI, what stood out about Kaleida Health was its overall revenue cycle performance, when compared with all other surveyed hospitals and health systems nationwide.
This includes Kaleida Health’s net days in accounts receivable, (which is in the top third of organizations), bad debt (1.2%, top decile performance), point of service collections (1.5%, top quartile performance), and cost to collect (2.6%, which is in the top third of organizations).