Paramount Health Solutions Helps Hospitals Thrive
As healthcare evolves to value-based care, the average hospital revenue cycle is losing roughly $22 million due to missed revenue capture. In addition, consulting firm and technology vendor BESLER recently partnered with HIMSS Media to identify the greatest industry challenges and potential opportunities for revenue cycle improvement. In October 2018 they surveyed more than 100 leaders in finance, revenue cycle, reimbursement and health information management (HIM) departments at hospitals and acute-care facilities. Survey results showed 84% of respondents believe clinical documentation and coding are high or medium revenue cycle risk. Hospital finance leaders were the most adamant with nearly half choosing clinical documentation and coding as their greatest revenue cycle vulnerability.
At Paramount Health Solutions, we address these issues by providing the roadmap to ensure clients are capturing a clean claim and preventing denials. Our team of physicians, healthcare providers and expert coders work together to accomplish increased revenue and compliance. We seamlessly implement changes to maintain successful revenue streams and considerable cost savings through the services we provide, which include: DRG Validation, Clinical Documentation Improvement (CDI), Education and Denials Management.
Our Approach
Paramount Health Solutions has taken the approach to DRG Validation (DRGV) and Clinical Documentation Improvement (CDI) very seriously. We have three of the most experienced and credentialed physicians in this industry leading Paramount’s DRGV/CDI teams and engagements.
Bilal Mushtaq, MD, Sanjeev Kumar, MD, and Rehan Shakoor, MD have over 35 years of combined experience in the DRGV/CDI industry and have supported and managed CDI departments for large non-profit and for-profit health systems, such as, Prime Healthcare Services, Ontario, CA; Texas Health Resources, Dallas, TX; Community Health Systems, Franklin, TN; Conifer Health, Frisco, TX; Optum 360/Dignity Health, San Francisco, CA; Accuity Delivery Systems, New York, NY; and Harmony Consulting Solutions, Tampa, FL.
These three physicians combined have an average dollar find between $2,500 – $4,500 per chart with opportunity, yielding more than $100 million in additional revenue to clients.