NYC Health + Hospitals adds revenue cycle systems
NYC Health + Hospitals, the largest public healthcare system in the nation, is continuing its implementation of Epic applications, moving to the second part of the project, which includes adding revenue cycle management software.
The organization in 2016 began an implementation of the Epic electronic health record covering 11 hospitals, five long-term care facilities and more than 70 community health centers. Now, the revenue cycle work kicks in, with an estimated price tag of $289 million over five years.
By adding revenue cycle improvements through the use of the Epic module, NYC Health expects to capture as much as $142 million in additional revenue based on patient volume during 2016. The City of New York also is chipping in $150 million in capital funds to aid the project.
“While we are one health system, we have been struggling with multiple different applications from different vendors, with some of our facilities still on paper,” said a NYC Health spokesperson who described the necessity of getting revenue cycle software for the entire enterprise.
The expected added revenue, achieved through a standardized revenue collection process used throughout the enterprise, would come from improved clinical documentation to support billed services, reduced claim denials and quicker reimbursement, the delivery system predicts. The revenue cycle software will be more user friendly, enabling patients to better understand their cost of care and to pay online.
Providers will get a consolidated patient record with features to improve efficiency, including processes to quicken admission of patients by entering specific care criteria, for example, if a patient needs a ventilator. NYC Health expects that having access to more refined data on clinical groupings of patients will support population health management.
Implementation costs cover staffing to customize the clinical/financial integrated platform and conduct training. The revenue cycle software itself was part of the EHR purchase, so there are no additional expenses for software. NYC did not provide additional information on the project.