Rice Revenue Cycle Team Wins National Award

Published in News Author: Carris Health

When Carris Health - Rice Memorial Hospital was presented with a Revenue Cycle Performance Award from Health Business Insights (HBI) this month, it put them in an elite group. HBI has 341 members across the country, and out of those organizations, only Rice and two others have won the Revenue Cycle Award three times.

Rice was chosen based on a combination of current performance, improvement shown, and practices employed. Since receiving the HBI award in 2012 and 2014, the hospital has taken significant steps to improve its performance even further. The revenue that the hospital writes off due to denied claims shrunk to an impressive 0.23%, which can be attributed to a recently created and easy-to-understand denials dashboard that focuses on prevention opportunities. Net days in accounts receivable was reduced from 59 to 51 days – with survey results showing it dip to as low as 45.7 days. On top of that, Rice yielded a 12% increase in net patient revenue, a difficult task to do in a time when payer contracts are changing.

“Our team works hard, and to see them get recognized nationally for the third time is something I’m really proud of,” said Jackie Hinderks, Director of Revenue Cycle.

Winners of the HBI 2017 Revenue Cycle Award were:

  1. Rice Memorial Hospital – Willmar, MN (a 110-bed Level III trauma center)
  2. Sharp HealthCare – San Diego, California (four acute care hospitals and 31 outpatient clinics)
  3. St. Luke’s Hospital – Chesterfield, Missouri and the greater St. Louis area (a 493-bed hospital and 26 outpatient locations)