healthcaretechoutlook

Cerner [NASDAQ: CERN]: Integrated, Clinically Driven RCM Solutions

 James English, Vice President & General Manager at Cerner RevWorks
Healthcare revenue cycle management (RCM), which encompasses activities from pre-registration of a patient all the way through to the final step of payment collection, has always been a complex process. And now, as healthcare delivery and payor requirements continue to evolve, new challenges arise for healthcare RCM managers. This shift towards value-based payment methods is driving healthcare organizations to look for robust RCM solutions that bend the cost curve as well as boost the bottom line. Against this backdrop, Cerner [NASDAQ:CERN], a major player in the RCM landscape, provides integrated RCM solutions designed to help healthcare organizations achieve a clinically driven revenue cycle. “Our Clinically Driven Revenue Cycle portfolio includes solutions and services designed to bring clinical, financial, and operational data together to optimize performance, guide decision-making, and reduce costs across acute and ambulatory care,” says James English, vice president and general manager of Cerner RevWorksSM. Cerner RevWorks— the services arm of Cerner’s revenue cycle business—provides RCM services to help address the challenges of managing revenue cycle operations. “Cerner RevWorks offers both short-and long-term services, including targeted project work, transition services, business office management, and full RCM outsourcing,” says English.

Since its inception in 1979, Cerner has been a visionary company that develops innovative solutions and services that meet and respond to today’s business needs while also anticipating tomorrow’s challenges. The company’s development efforts are inspired by four guiding principles:

• Enabling easier, timely, and more efficient decision-making while leveraging analytics
• Helping clients increase yield
• Accelerating cash flow
• Reducing the overall costs to collect

These tenets along with the Cerner Model Experience, which is the company’s methodology for providing subject matter expertise and best practices, helps healthcare organizations optimize their existing solutions, implement new technology, and adopt necessary training to improve workflow efficiencies and control costs. “We are focused on delivering an integrated RCM experience that is both consumer-and statistics-driven,” says English. “We are also committed to continuously refining our analytics platform which plays a critical role in driving our clients’ productivity in the revenue cycle and their compliance with alternative payment models.” English also explains the company’s commitment to developing the expertise of its revenue cycle associates to guide clients on best practice recommendations and optimal use of solutions. “The Cerner Revenue Cycle Certification Program (CRCP) ensures that our teams have a thorough understanding of the entire revenue cycle and the necessary solution expertise to help our clients manage projects successfully.”

Cerner’s comprehensive RCM solutions and services support a growing client base across the U.S. and global markets, including over 300 clients across acute and ambulatory venues. English shared one example of how Carroll County Memorial Hospital partnered with Cerner RevWorks to enhance their workflow efficiencies, meet organizational metrics, and control costs. “Our RevWorks team worked closely with Carroll County as it added new facilities with expanded services and additional care providers. Together, we helped them increase gross revenue by 132 percent1, cash collections by 165 percent1, and decrease their A/R days by 42 percent1.” He also pointed to several more of Cerner’s client achievement stories published on the company’s website.

With over four decades of industry experience, a growing community of clients and compelling vision for the future, Cerner maintains a strong position in the RCM landscape. It also has a robust roadmap for future revenue cycle development. English explains the company’s future plans to leverage the intelligence of its RCM platform to further automate workflows, reduce manual tasks, and lower costs. “We are also working toward an improved consumer experience through guided scheduling and bill pay flexibility, preventing denials through financial clearance improvements, and increasing user efficiency with optimized workflows,” he concludes.

1 Measuring from 2012 (pre-implementation) to 2017.