LHC Group, Inc.
In Fall 2014, LHC Group recognized its revenue cycle needed redesigning to optimize performance and lower operational costs.
TPG staff served as the interim Vice President of Revenue Cycle for five months during the search for a replacement. During that time, we reviewed the existing revenue cycle process, determined the best structure for centralized revenue cycle, and established home health key performance indicators. We initiated and executed the restructuring process with positive results.
The revenue cycle restructure resulted in a significant reduction in annual staffing costs and improved cash collections and days sales outstanding. The transition to the payor pod environment focused on accounts receivable and collections by payor. Monthly Operational Reviews (MOR) were established for leadership to review accounts receivable and collections by payor, allowing for a greater focus on problem areas and path to resolution.
TPG also successfully transitioned the permanent VP of Revenue Cycle and served in an advisory role during the transition.