1. Revving Up to ICD-10: Key Steps to Minimize Revenue Cycle Risk Craig S. Greenberg, CMPE, Executive Consultant November 15, 2013

2. Heading – Ariel 40 2 There’s a Code for That!

3. Heading – Ariel 40 Industry readiness stats Identify potential practice costs Steps to develop a proactive plan Areas of focus to optimize revenue cycle Questions 3 Agenda

4. Heading – Ariel 40 What is your practice’s level of knowledge around ICD-10 implementation? a)Very knowledgeable (staff has been trained and are preparing for ICD-10) b)Somewhat knowledgeable (some staff has been trained and are preparing for ICD-10) c)Not very knowledgeable (staff hasn’t been trained but are aware of ICD-10) d)Not at all knowledgeable (staff hasn’t been trained and aren’t aware of ICD-10) 4 Poll Question

5. Heading – Ariel 40 55% of physicians have not started any implementation activities 26% of these physicians say they don’t have the time, staff or training resources to begin preparation 5 Industry Readiness Stats Porter Research 2013, iHealthBeat 2013

6. Heading – Ariel 40 6 Porter Research 2013, iHealthBeat 2013 Industry Readiness Stats

7. Heading – Ariel 40 7 Porter Research 2013, iHealthBeat 2013 Potential Practice Costs

8. Heading – Ariel 40 8 Porter Research 2013, iHealthBeat 2013 Changes Impact Everyone

9. Heading – Ariel 40 9 Develop Proactive Business Plan

10. Heading – Ariel 40 Does your practice have a Readiness Assessment plan for your technology, hardware/software and business processes? a)Yes, we have a plan and have started the assessment b)Yes, we have a plan but haven’t started the assessment c)No, we don’t have a readiness assessment plan 10 Poll Question

11. Heading – Ariel 40 Meet with front-line staff to dissect processes Map out workflow diagrams Evaluate and modify 11 Improve Organizational Workflow

12. Heading – Ariel 40 Some key considerations: ̵ How well do your systems communicate with each other? ̵ Is it easy to get actionable data out of your system? ̵ Does your staff need training to work more efficiently? ̵ Do you need expert guidance to optimize your system? 12 Optimize IT Systems

13. Heading – Ariel 40 Certified coders in high demand Invest in staff training Develop retention program 13 Recruit & Retain Certified Coders

14. Heading – Ariel 40 Have you given consideration around winding down ICD-9 receivables? a)Yes, I have a plan in place b)Yes, I’ve considered it, but I don’t have a plan c)No, I haven’t considered it 14 Poll Question

15. Heading – Ariel 40 Decrease AR Closely manage rejects and denials Reduce coding errors 15 Develop Cash Reserve Plan

16. Heading – Ariel 40 Measure success Factor in practice attributes Structure/Specialty Geography Payer mix Managed care contracts Technology 16 Benchmark Performance

17. Heading – Ariel 40 17 Financial Planning - Revenue Cycle Optimization it’s not easy...

18. Heading – Ariel 40 The time is to act is NOW Communicate, communicate, communicate ̵ Apply project management processes and principles Keep senior leadership informed to remove roadblocks and gain support Work with industry associations for support and resources Leverage everything you can to increase productivity – people, processes, and technology Standardize and centralize to increase efficiency There are no shortcuts, just opportunities Think outside of the box 18 Take-Aways

19. 19 319 days left!

20. Thank You For more information please contact: name@beaconpartners.com 1.800.4BEACON │ BeaconPartners.com BOSTON · CLEVELAND · SAN FRANCISCO · TORONTO 20 For more information please contact: Kristin Regan kregan@beaconpartners.com