Creating a Comprehensive Approach to Revenue Cycle Transformation
Written by Alicia Hanson
I know that managing your revenue cycle efficiently is crucial for the financial health of your organization, I’ve been there, I can attest to how hard it can be without the right tools. I recently joined SparkChange, and I did it because it was the first place I’ve been in a while that is really making every effort to be a transformative force in the healthcare revenue cycle, focusing strategically on addressing the challenges of labor productivity and cash flow. SparkChange has a comprehensive approach that combines data-driven insights, operational optimization, and key services, like I haven’t seen before, here we’re reshaping and reinventing the healthcare revenue cycle.
“By addressing labor productivity, optimizing cash flow, and offering a suite of services grounded in data, IT expertise, and operations efficiency, we want to emerge as a reliable partner in navigating the complexities of healthcare finance.”
SVP, Revenue Cycle Strategy & Growth
Data-Driven Insights
One thing that struck me when I was considering joining on was how the team strongly emphasizes harnessing the power of data to drive informed decision-making. Our data strategy encompasses several components designed for healthcare. The extracts, premier Enterprise Data Warehouse (EDW), and critical insights through interactive dashboards are the three key components that make the difference. Extracting valuable information from various sources, we ensure a robust data foundation. Our premier EDW facilitates seamless data integration, providing a unified view for comprehensive analysis. Critical insights are delivered through intuitive dashboards, enabling you to make informed decisions that enhance operational efficiency and revenue outcomes.
Services Tailored for Success
We know that sometimes the task may be too big, or the bandwidth isn't there, so we offer services to optimize your approach. We’ve all been there, looking for partners and resources that can help. SparkChange isn’t a temporary fix. We offer sustainable solutions, focusing on optimizing your EHR and financial systems, providing advisory expertise to get to the core of your issues, and delivering unparalleled IT support that fixes the problem. Our EHR optimization ensures your organization maximizes its potential, improving workflow and overall efficiency. With decades of industry experience, our advisory team provides strategic guidance to navigate complex challenges and capitalize on revenue opportunities. Our IT support is unmatched, providing a reliable foundation for seamless operations.
Operations Optimization
Operational efficiency is a distinctive feature of our approach. Leveraging advanced database automations, we streamline your processes to reduce manual labor and enhance accuracy. Identifying revenue streams is a core focus, ensuring every opportunity is explored and capitalized upon. Our ability to expedite the journey from service delivery to cash collection sets us apart in the industry.
Cost-Effective Solutions
We don't just drive efficiency; we also bring cost savings. One area we focus on is your laundry list of vendors. By reducing vendor costs, increasing revenue opportunities, lowering the cost to collect, and improving yield, we create a financial impact that contributes to the overall success of your organization. Our combined decades of experience in support, EHR optimization, and health system revenue cycles position us as trusted partners in achieving your financial goals.
Our Productivity Platform
The SparkChange Productivity Platform is built on three core products that come together to spark change: SparkActions, Spark360, and SparkServices. SparkActions introduces database automations into your workflows, reducing manual effort and improving accuracy. Spark360 provides comprehensive dashboards and analytics, offering actionable insights for data-driven decision-making. With SparkServices, we offer tailored solutions, including testing, patient status order implementations, and data extracts, ensuring a holistic approach to revenue cycle management.
Spark Some Change
SparkChange stands out as a catalyst for positive transformation in the complex world of the healthcare revenue cycle. By addressing labor productivity, optimizing cash flow, and offering a suite of services grounded in data, IT expertise, and operations efficiency, we want to emerge as a reliable partner in navigating the complexities of healthcare finance. As the industry continues to evolve (and hopefully improve), we remain committed to driving productivity and efficiency for the financial well-being of healthcare organizations.
We all know that managing your revenue cycle is super essential for the financial health of your organization. We're doing everything we can to help transform how you do this by focusing on labor productivity and cash flow challenges. At SparkChange, we're completely reinventing the healthcare revenue cycle by taking a comprehensive approach that combines key services, operational optimization, and data-driven insights.
