Financial Management

Improving Cash Flow and Revenue Cycle Management

The Looking Glass® platform delivers Financial Management solutions for Revenue Cycle Optimization across the healthcare enterprise. By helping identify areas for process improvement and rationalizing existing workflows, these solutions enable organizations to reduce denials, mitigate audits and optimize cash flow in a value-based world.

Financial management for healthcare: business analytics, accounts receivable, denials management, audit management.

Business Analytics

Healthcare organizations have massive amounts of valuable information that is confined by the limitations of stand-alone data systems that are not easily accessed or shared. Our business analytics solution solves this problem by aggregating data from these disparate systems, simplifying access to financial and clinical information into one user-friendly, web-based solution. Users across multiple departments are empowered to perform advanced data mining and opportunity analysis wherever they may be working. The solution allows healthcare organizations to collaborate across departments, develop and jump-start action plans, and capitalize on high-impact opportunity areas instantly.

 

Financial management for healthcare: business analytics, accounts receivable, denials management, audit management.

Denials Management

Understanding the root causes of denials and appealing them when they occur is the first step in implementing revenue cycle optimization, building an effective denial management program and recovering additional net revenue. By integrating our denials management and business analytics solutions, your organization is able to parse and translate all incoming raw 835 files to identify at-risk accounts through advanced reporting capabilities that standardize denial tracking, reporting, and trending information.

 

Financial management for healthcare: business analytics, accounts receivable, denials management, audit management.

AR Management

Prioritizing receivable collections and driving ownership and accountability among staff members are real challenges for any healthcare organization. With our real-time accounts receivable (AR) and denial workflow solution, organizations can implement revenue cycle optimization and instantly prioritize the entire accounts receivable management and liquidation process in order to minimize the cost to collect and maximize overall cash collections.

 

Financial management for healthcare: business analytics, accounts receivable, denials management, audit management.

Audit Management

Successful audit defense is more than just a program to address Recovery Audit Contractors (RAC). Our solution addresses the enterprise-wide cash flow risk arising from both governmental and private payor audits, accelerating the audit process and ensuring compliance while minimizing audit recovery risks to Medicare, Medicaid, and commercial payor reimbursements. By automating the manual processes, stages, and levels of an appeal, our solution empowers your organization to manage and monitor critical financial requests with the flexibility to meet the unique needs of a variety of different audit types.

 

Revenue Cycle Optimization Success Stories

Read Client Case Studies

Financial management for healthcare: business analytics, accounts receivable, denials management, audit management.

Lucile Packard Children’s Hospital

Lucile Packard (LPCH) implemented business analysis while on track to be under budget for fiscal year end cash goal. Streamline Health worked closely with LPCH to install the workflow system and redesign the AR management process. LPCH also used Streamline’s business analytics to stratify the outsourced low dollar accounts.

 

Financial management for healthcare: business analytics, accounts receivable, denials management, audit management.

Baptist Health Care

Baptist Health Care Corporation implemented business analytics because it needed a sophisticated business intelligence technology with in-depth analysis and workflow tools. The organization not only found a way to identify and prioritize areas of financial opportunity, it also saw a $6 million improvement in cash flow above net revenues, shaved five to six days in outstanding accounts receivable, and saw the average monthly denial write-offs decrease from $750,000 to $300,000, equating to an estimated annual net revenue improvement of $1 million to $2 million.

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