Clarivate Healthcare Business Insights Unveils 2023 Revenue Cycle Award Winners
Clarivate (NYSE:CLVT) has announced the winners of its 2023 Healthcare Business Insights Revenue Cycle Awards, marking the program's 12th year. The awards recognize U.S. healthcare organizations for outstanding revenue cycle key performance indicators (KPIs), based on fiscal year data.
This year's recipients include Roper St. Francis Healthcare (Physician Group) from South Carolina, Bon Secours Mercy Health (Physician Group) from Ohio, Bronson Methodist Hospital from Michigan, and Roper St. Francis Healthcare from South Carolina. Winners demonstrated top decile performance across various financial metrics.
Clarivate (NYSE:CLVT) ha annunciato i vincitori dei Healthcare Business Insights Revenue Cycle Awards 2023, segnando il 12° anno del programma. I premi riconoscono le organizzazioni sanitarie statunitensi per l'eccellenza negli indicatori chiave di prestazione del ciclo di entrate (KPI), basati sui dati dell'anno fiscale.
I destinatari di quest'anno includono Roper St. Francis Healthcare (Gruppo Medico) dalla Carolina del Sud, Bon Secours Mercy Health (Gruppo Medico) dall'Ohio, Bronson Methodist Hospital dal Michigan e di nuovo Roper St. Francis Healthcare dalla Carolina del Sud. I vincitori hanno dimostrato prestazioni nel decile superiore in vari parametri finanziari.
Clarivate (NYSE:CLVT) ha anunciado a los ganadores de los Healthcare Business Insights Revenue Cycle Awards 2023, marcando el 12° año de este programa. Los premios reconocen a las organizaciones de salud en EE. UU. por sus indicadores clave de rendimiento (KPI) excepcionales en el ciclo de ingresos, basados en datos del año fiscal.
Los receptores de este año incluyen a Roper St. Francis Healthcare (Grupo de Médicos) de Carolina del Sur, Bon Secours Mercy Health (Grupo de Médicos) de Ohio, Bronson Methodist Hospital de Michigan y nuevamente Roper St. Francis Healthcare de Carolina del Sur. Los ganadores demostraron un rendimiento en el décimo superior en diversas métricas financieras.
Clarivate (NYSE:CLVT)는 2023 Healthcare Business Insights Revenue Cycle Awards 수상자를 발표하며, 프로그램의 12년을 기념합니다. 이 상은 미국의 의료 기관들이 재무 연도 데이터를 기반으로 우수한 수익 주기 핵심 성과 지표(KPI)에 대해 인정받는 것입니다.
올해 수상자는 사우스캐롤라이나의 Roper St. Francis Healthcare (의사 그룹), 오하이오의 Bon Secours Mercy Health (의사 그룹), 미시간의 Bronson Methodist Hospital, 그리고 다시 사우스캐롤라이나의 Roper St. Francis Healthcare를 포함합니다. 수상자들은 다양한 재무 지표에서 상위 10%의 성과를 보여주었습니다.
Clarivate (NYSE:CLVT) a annoncé les gagnants des Healthcare Business Insights Revenue Cycle Awards 2023, marquant la 12ème année de ce programme. Les prix récompensent les organisations de santé américaines pour leurs indicateurs clés de performance (KPI) exceptionnels dans le cycle de revenus, basés sur les données de l'exercice fiscal.
Les lauréats de cette année comprennent Roper St. Francis Healthcare (Groupe de Médecins) de Caroline du Sud, Bon Secours Mercy Health (Groupe de Médecins) d'Ohio, Bronson Methodist Hospital du Michigan et à nouveau Roper St. Francis Healthcare de Caroline du Sud. Les gagnants ont démontré une performance dans le décile supérieur à travers divers indicateurs financiers.
Clarivate (NYSE:CLVT) hat die Gewinner der Healthcare Business Insights Revenue Cycle Awards 2023 bekannt gegeben und feiert damit das 12. Jahr des Programms. Die Auszeichnungen würdigen US-amerikanische Gesundheitsorganisationen für herausragende Leistungskennzahlen (KPI) im Einnahmenzyklus, basierend auf Daten des Geschäftsjahres.
Die diesjährigen Preisträger sind Roper St. Francis Healthcare (Arztgruppe) aus South Carolina, Bon Secours Mercy Health (Arztgruppe) aus Ohio, Bronson Methodist Hospital aus Michigan und erneut Roper St. Francis Healthcare aus South Carolina. Die Gewinner wiesen eine Leistung im oberen Dezil in verschiedenen finanziellen Kennzahlen auf.
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Recognizing Roper St. Francis Healthcare, Bon Secours Mercy Health, and Bronson Methodist Hospital for excellence in Physician and Hospital Groups
The Clarivate Healthcare Business Insights Revenue Cycle Awards honor healthcare organizations demonstrating excellence in KPIs critical to fiscal health. This year's winners achieved top decile performance across diverse metrics and implemented forward-looking initiatives to address key challenges in the healthcare landscape.
Brad Cording, Vice President, Product Management, Life Sciences and Healthcare, Clarivate, said: "We are honored to recognize the outstanding achievements of this year's Revenue Cycle Award recipients, whose commitment to excellence sets a benchmark for the healthcare industry. By demonstrating innovation and resilience in the face of today's complex challenges, these organizations underscore the importance of effective revenue cycle management in fostering financial health and enhancing patient care. We are proud to support and celebrate their successes within the healthcare community."
In addition to financial outcomes, recipients were selected based on effective revenue cycle operations, including initial denial percentages across revenue cycle areas that reveal insights into root causes and workflow accuracy. Entrants also highlighted initiatives focused on revenue cycle data analytics, process optimization, and payer management.
While all winners share high-performing revenue cycles, they represent varied segments within the healthcare landscape, as defined by annual net revenue. The 2023 Healthcare Business Insights Revenue Cycle Awards winners are:
- Roper St. Francis Healthcare (Physician Group) – 2023 Revenue Cycle Award Winner:
$250 Million
Roper St. Francis Healthcare is a not-for-profit health system with locations throughoutSouth Carolina . Roper St. Francis Healthcare generated approximately$160 million
Key achievements:- Top decile performance on cash collections as a percentage of net revenue:
108.3% - Top decile performance on overall appeal success rate:
98.7% - Roper St. Francis Healthcare, through its partnership with Ensemble Health Partners, utilizes various revenue cycle analytics reporting packages and uses proprietary automation and AI software to improve revenue cycle processes and financial outcomes.
- Top decile performance on cash collections as a percentage of net revenue:
- Bon Secours Mercy Health (Physician Group) – 2023 Revenue Cycle Award Winner:
$250 Million $500 Million
Bon Secours Mercy Health is a not-for-profit healthcare system based inCincinnati, Ohio . Bon Secours Mercy Health (Physician Group) generated approximately$333 million
Key achievements: - Top decile year-over-year improvement on cash collections as a percentage of net revenue:
13.2% improvement - Top decile performance on percentage of dollars initially denied by payers due to coding errors:
1.6% - Bon Secours Mercy Health has implemented initiatives to hold payers accountable when performance is not meeting contractual obligations and to address inappropriate claim delays and denials.
- Top decile year-over-year improvement on cash collections as a percentage of net revenue:
- Bronson Methodist Hospital - 2023 Revenue Cycle Award Winner -
$500 Million $1 Billion
Bronson Methodist Hospital is regional medical center and children's hospital inMichigan and is part of Bronson Healthcare. It generated approximately$915 million
Key achievements:- Top decile year-over-year improvement on initial denials due to patient access errors:
26.8% improvement - Top decile year-over-year improvement on initial denials due to coding errors:
6.7% improvement - Bronson Methodist Hospital has a revenue cycle business analytics department that uses data to help improve performance, implemented an internal staff development program, developed a metric to help identify the impact of payer denials on actual cash yield versus expected, and more.
- Top decile year-over-year improvement on initial denials due to patient access errors:
- Roper St. Francis Healthcare (Hospital Group) - 2023 Revenue Cycle Award Winner:
$1
Roper St. Francis Healthcare is a not-for-profit health system with locations throughoutSouth Carolina . Roper St. Francis Healthcare generated approximately$160 million
Key achievements:- Top decile year-over-year improvement on net A/R days: 0.4 day improvement
- Top decile performance on initial denials due to patient access errors:
19.7% - Roper St. Francis Healthcare, through its partnership with Ensemble Health Partners, utilizes various revenue cycle analytics reporting packages and uses proprietary automation and AI software to improve revenue cycle processes and financial outcomes.
Clarivate Healthcare Business Insights proudly partners with over 1,900 hospitals and health systems across
To learn more about Clarivate Healthcare Business Insights, visit www.clarivate.com/products/healthcare-business-insights/.
About Clarivate
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Director, External Communications, Life Sciences & Healthcare
newsroom@clarivate.com
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SOURCE Clarivate Plc
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