Revenue Cycle Management Improvement Template

Revenue Cycle Management Improvement in Priority Matrix

Enhance your non-profit healthcare revenue cycle with streamlined billing, claims, and collections processes.

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Proposed Tasks

Urgent and Important

• Task 1 due in 1 day: Review Current Billing System
  ☐ Identify strengths and weaknesses ☐ Highlight areas for improvement
• Task 2 due in 3 days: Analyze Outstanding Claims
  ☐ Identify reasons for non-payment ☐ Develop strategy to address these issues
• Task 5 due in 3 weeks: Train Staff on New Billing System
  ☐ Develop training materials ☐ Conduct training sessions
• Task 11 due in 9 weeks: Improve Insurance Claim Submission
  ☐ Review claim submission process ☐ Implement improvements
• Task 17 due in 15 weeks: Improve Data Accuracy
  ☐ Ensure accurate patient and insurance data ☐ Implement data verification steps
• Task 19 due in 17 weeks: Streamline Payment Posting
  ☐ Review current payment posting process ☐ Implement improvements
• Task 20 due in 18 weeks: Improve Denial Management
  ☐ Review denial reasons ☐ Implement strategy to reduce denials

Important, Not Urgent

• Task 3 due in 1 week: Improve Communication with Insurance Companies
  ☐ Establish regular contact ☐ Clarify claim requirements
• Task 4 due in 2 weeks: Revamp Payment Collection Strategy
  ☐ Review current strategy ☐ Implement changes for efficiency
• Task 7 due in 5 weeks: Conduct Regular Audits
  ☐ Ensure compliance with regulations ☐ Identify potential fraud
• Task 9 due in 7 weeks: Review Collection Agencies
  ☐ Assess effectiveness ☐ Consider alternatives
• Task 14 due in 12 weeks: Improve Financial Reporting
  ☐ Review current reports ☐ Implement changes for better visibility
• Task 16 due in 14 weeks: Review Patient Financial Responsibility
  ☐ Ensure patients understand their financial responsibility ☐ Improve transparency
• Task 18 due in 16 weeks: Regularly Update Billing Codes
  ☐ Stay updated with changes in billing codes ☐ Ensure accurate coding

Urgent, Not Important

• Task 6 due in 4 weeks: Monitor Performance of New Billing System
  ☐ Track speed and accuracy of billing ☐ Make necessary adjustments
• Task 8 due in 6 weeks: Improve Patient Communication
  ☐ Clarify billing procedures ☐ Improve transparency
• Task 12 due in 10 weeks: Monitor Patient Satisfaction
  ☐ Conduct patient surveys ☐ Address patient concerns
• Task 15 due in 13 weeks: Conduct Regular Team Meetings
  ☐ Discuss challenges and successes ☐ Keep team motivated

Neither Urgent nor Important

• Task 10 due in 8 weeks: Evaluate Technology Solutions
  ☐ Consider new billing software ☐ Assess cost and benefits
• Task 13 due in 11 weeks: Review Staffing Levels
  ☐ Ensure adequate staffing for billing ☐ Consider hiring additional staff