Helping hospitals and health systems improve their financial health
In this current environment of unrest, the healthcare industry is being radically challenged, from the traditional patient visit to financial performance and of course, the ways we work. Healthcare organizations need to uncover new value and continue to be on the cutting edge of innovation to emerge stronger.
As accounting and consulting advisors to hospitals throughout the US, we provide best practices for hospital and health system clients and seek every opportunity for financial and quality improvement. In this challenging and continually changing healthcare landscape, we engage closely with each hospital we serve. We pair our finance, tax, technology, revenue cycle, credentialing, compliance, and healthcare analytics consultants with key client stakeholders to identify and address organizational challenges to manage the development and implementation of recommended solutions.
Our healthcare consultants provide:
- Dedicated healthcare expertise. Our professionals focus on healthcare, which gives us targeted knowledge in the industry. Several team members have worked for hospitals and have practical experience as CFOs, controllers, accounting managers, IT leaders, and revenue cycle and reimbursement directors.
- Targeted annual benchmarking. Each year, our financial statement audit clients receive a full ratio comparative analysis, providing a clear sense of their performance relative to the industry. This hospital benchmarking data provides perspective of where each client stands in relation to peer organizations and informs the development of a clear roadmap for improvement.
- Revenue cycle management. Working collaboratively with clients, our revenue cycle consultants conduct thorough analyses of revenue cycle processes including patient access, coding, billing, compliance, charge master, and denials prevention.
- Cost report and DSH expertise. We can help relieve the burden of your Medicare and DSH reporting and related audit work. Our deep knowledge of hospitals and reimbursement regulations, experience as Medicaid DSH auditors for various states, and data management skills give you an edge.
- Value-based healthcare consulting. As more hospitals and healthcare providers engage in the journey of value-based healthcare, our audit, reimbursement, healthcare data analytics, and technology consultants can support decisions in contracting with payers, selecting health information technology, and recognizing revenue appropriately.
- Technology consulting. We establish clear technology strategies, electronic health records, IT security, and HIPAA compliance for hospitals. Our IT consultants provide comprehensive support with change management, project management, and software selection.
- Compliance and credentialing services. BerryDunn offers expert solutions focused on helping healthcare organizations meet their compliance obligations. As an NCQA-certified Credentials Verification Organization (CVO), we offer a full array of credentialing, enrollment, and Primary Source Verification (PSV) services.
- Outsourced accounting. Whether you're filling an interim position or working with a BerryDunn team to improve processes in your finance office, we can provide experienced and efficient staffing resources to help ensure immediate stability and long-term sustainability with our outsourced accounting services.
- Financial close management. We can help you create an efficient monthly financial close process that can provide more timely and reliable financial reporting and improve your audit readiness.
We understand that keeping up with revenue cycle, reimbursement, compliance, accounting, and technology changes is a continual challenge for hospital personnel. We keep clients apprised of evolving laws and policies, and provide clear strategies to understand key issues and implement necessary changes. For more information, please contact our hospital consulting team.
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