Running a profitable healthcare facility continues to become more and more difficult. Administrative expenses increased while revenue from insurance companies, Medicare and Medicaid continue to decrease. Yet hospitals continue to spend increasing resources managing their documents, including software, scanners and staff. One critical patient related document-based activity is Release of Information (ROI). Whether it's the patient who is moving to another city or to another doctor who requires this information for an appropriate diagnosis, all parties agree that faster is better.
Outsourcing ROI to an experienced third party can significantly improve the entire process across multiple dimensions. As specialists, an ROI provider has significant experience performing these actions for multiple parties. This leads to economies of scale and more focused operations. In short, an external provider fulfills ROIs faster than most medical facilities – once a request is initiated, in most cases, it can be fulfilled within a 24-hour period.
Since costs become more predictable, hospitals can more effectively price their ROI requests. This can turn a cost center into a break-even or (dare we say) profit center. No longer does the hospital have to manage expensive labor and technology investments, as these are more efficiently managed by the ROI provider. In addition, since the ROI provider focuses its efforts across the entire process, they can focus more on collections from all requestors.
Finally, since the process becomes completely digital, ROI providers ensure HIPAA compliance from day one. This includes requestor verification, electronic audit logs, better document security, and activity status tracking. No longer do you have to print the document, which adds risk to ongoing security and privacy concerns. With an entirely electronic process, both medical providers and their patients can know that their information is safe and managed to the highest security protocols.
As a leading ROI provider, The Windward Group is uniquely positioned to help your healthcare facility better manage its ROI requests. We have hundreds of clients, where we fulfill thousands of requests on a monthly basis. Most requests are filled in less than a day. Let us show you how we can streamline your ROI process, while enabling you to increase your ROI revenue.