In this Business Profile, Jerry Bruno, principal with Deloitte Consulting LLP, discusses the importance of choosing revenue cycle solutions that help an organization meet the challenges of a quickly evolving healthcare environment.

Jerry BrunoTell me a little bit about your organization.

Deloitte Consulting, LLP Health Care Provider Revenue Cycle Management practice—named Best in KLAS for Revenue Cycle Transformation 2015/2016—is the market leader in delivering impact and value to healthcare provider organizations. We help improve margin performance by delivering revenue enhancement and cost reduction solutions across all types of providers—large, integrated health systems, academic medical centers, physician groups, and post-acute care providers. We support provider organizations working on critical challenges in today's complex healthcare environment by focusing on all aspects of the revenue cycle, including operating model; organizational structure; technology automation and digital; customer transformation; mergers, acquisitions, and integration; and data analytics and performance management.

What are some of the biggest challenges you see affecting healthcare organizations?

We see many challenges, but four in particular stand out:

Increasing adoption of true innovation and analytics within the revenue cycle space to drastically improve cost structure. Organizations are asking how they break the mold of traditional transaction processing to deliver differentiated financial results using data analytics and through the adoption of disruptive business models.

Cost and net revenue performance is critical to maintaining market position and financial viability as care delivery and reimbursement models shift. As an example, operational and technological capabilities required to collect patient revenue are becoming increasingly complex and costly with no guarantee on net revenue yield performance. How do providers optimize their cost base and achieve breakthrough net revenue performance as the cost burden continues to shift to patient responsibility?

Having a nimble operating model that allows providers to manage the transition from volume to value and understanding operational capabilities that are required to deliver revenue cycle services today, through the transition, and in a value-based care environment. Provider organizations must be able to change as care delivery systems evolve and advance the delivery of revenue cycle services. Providers need to understand which revenue cycle services and capabilities are critical to the financial sustainability and viability of an organization in a value-based care environment.

Understanding and staying ahead of evolving customer expectations in terms of quality, cost, and access efficiency. Patients are demanding more for less and are seeking an experience in the healthcare market that rivals that of other service industries. Providers are feeling pressure to take patient experience to the next level to begin to predict, and ultimately influence, patient behaviors.

How do Deloitte's products or service offerings address these needs?

Deloitte has a breadth of strategy, operations, technology, and human capital solutions that help providers address some of their most complex business problems. Specifically related to the challenges presented above, we help our clients achieve their strategic and financial performance goals through our revenue cycle management and analytics services as well as our value- based care and customer transformation solutions.

  • Our revenue cycle management solution, named Best in KLAS for Revenue Cycle Transformation for 2015/2016, has more than 300 professionals who deliver impact to organizations in the areas of operational transformation, revenue cycle systems, charge integrity, patient experience, and compliance and regulatory risk.
  • Deloitte revenue cycle analytics, powered by our Revenue Intellect™ and Patient Collections Intellect™ analytics solutions, help to identify hidden or difficult-to-find sources of revenue loss, enabling users to access data at the deepest levels for improved revenue cycle performance.
  • As the industry moves toward a value-based care model, it shifts away from a focus on the volume of services to the value of those services. Through our solutions for VBC, we help provider organizations better understand how consumers are responding, the implications for the industry, and steps organizations can take to win in this new marketplace.
  • Consumers are more engaged and informed in their health care than ever before. Expectations are evolving, and with that comes increasing demands for convenience, transparency, and interactions with their providers. We lead our clients in a patient engagement strategy that drives revenue enhancement, higher profitability, cost reduction, and engagement.

What are some key considerations for healthcare leaders when choosing these types of solutions?

Leaders should consider many different elements of these potential solutions to determine how they can best improve, examples of which include:

  • Value: how will the solution enable differentiated financial performance to help an organization achieve margin goals and enhance market position
  • Impact: how will the solution impact the way organizations fundamentally deliver services and engage with customers
  • Relevance: how will the solution deliver value and impact in today's environment, and how will it be relevant to address the challenges the organization will face as it transitions to value-based care
  • Transformation: what investment and resource requirements—clinical, operations, technology, and customer—are needed to lead and deliver transformative change across the enterprise

What advice would you offer to healthcare leaders when choosing among vendors?

Take a broad, strategic view of an issue and consider solutions that are not only relevant today but also enable the transition to value-based care. Leaders should expect that vendors commit to delivering value and impact that aligns with the financial, operational, and customer objectives of the organization. Leaders should expect that vendors demonstrate the breadth and depth of experiences delivering value to other organizations. In addition to these considerations, leaders should look for vendors that will take the journey with the organization and work with their teams to facilitate a collaborative environment throughout solution preparation and implementation.

As healthcare organizations implement use of your solutions into their day-to-day operations, what advice would you offer so they can best set themselves up for success?

Some of our most successful clients are those that approach issues with a broad perspective and embrace innovation and analytics to inform solution design to ultimately impact how they deliver services and engage with their customers. Organizations should not be afraid to be forward thinking in their approaches and solutions to thrive in a changing healthcare environment.

For revenue cycle, in particular, this could mean transforming your traditional billing and collections revenue cycle by adopting asset management principles, where you manage patient revenue based on value or yield, not historic performance alone. That shift will be critical for providers as they continue the journey toward value in this complex market.

Are there any educational materials you would like to share to help healthcare providers in these efforts?

On the Deloitte Health Care Provider web site, organizations can learn more about our customer transformation services, Deloitte digital solutions, and revenue cycle transformation. We also have a webinar on using analytics to improve reimbursements.

About Deloitte: As used in this document, "Deloitte" means Deloitte Consulting LLP, a subsidiary of Deloitte LLP. Please see the website for a detailed description of the legal structure of Deloitte LLP and its subsidiaries. Certain services may not be available to attest clients under the rules and regulations of public accounting.

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Publication Date: Wednesday, June 01, 2016