Mid-revenue cycle management is concerned with the phase of the process between the point where a patient accesses care and the care provider’s business office. Typically processes during this time include documentation, coding, CDI, and compliance. A recent Markets and Markets report expected sustained growth in this market. It projects a compound annual growth rate (CAGR) of 7.9 percent and a market size of $4.5 billion by 2023.
Providers are increasingly using solutions to improve their mid-revenue cycle numbers in order to reduce costs. It’s also a preferred way to spot revenue leaks such as coding errors and non-compliance issues. Concentrating on mid-revenue cycle management is a change from the traditional approach of splitting revenue cycles by the front and back end, where the front end was patient access and patient-centric financial matters and the back-end involved billing and claims.
Within pay-for-performance and value-based models, providers needed to change their focus. They discovered it is especially important to improve coding and documentation quality as it relates directly to receipt of accurate payments and possible performance-based bonuses. Quality vendors in this space can improve workflows and processes through the use of a vendor that employs experienced people who have expertise in dozens of medical specialties.
Ranked a top ten revenue cycle management firm by Modern Healthcare, Aviacode has seen similar recent growth, as evidenced by its organic growth and recent acquisitions of the assets of Revant Solutions, a long-time provider of facility coding outsourced services, and an India-based medical coding company.
Aviacode gives providers of any size the opportunity to reclaim additional revenue and consistently lower costs. A core strength of Aviacode is its people, who specialize in an assortment of medical specialties and accurately code more than 10 million encounters per year. The company offers an ideal solution to shore up mid-revenue cycle management by eliminating administrative work and duplication, and reducing errors with higher quality coding and consultations on improved documentation and charge captures. We help providers to eliminate poor coding and markedly improve their mid-revenue cycle metrics.