Recognizing Roper St. Francis Healthcare, Bon
Secours Mercy Health, and Bronson Methodist Hospital for excellence
in Physician and Hospital Groups
LONDON, Nov. 13,
2024 /PRNewswire/ -- Clarivate
Plc (NYSE:CLVT) a leading global provider of transformative
intelligence, announced the 2023 winners of the Clarivate
Healthcare Business Insights™ annual Revenue Cycle Awards. Now
in its 12th year, the Revenue Cycle Awards recognize U.S.-based
healthcare organizations for exceptional performance on revenue
cycle KPIs, based on data from their most recent and preceding full
fiscal years. The 2023 recipients include Roper St. Francis
Healthcare (Physician Group) – SC; Bon Secours Mercy Health
(Physician Group) – OH; Bronson Methodist Hospital – MI; and Roper
St. Francis Healthcare – SC.
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 or Less Net Revenue
Roper St. Francis Healthcare is a
not-for-profit health system with locations throughout South Carolina. Roper St. Francis Healthcare
generated approximately $160 million
annual net revenue in 2023 and is a first-time Revenue Cycle Award
winner. Ensemble Health Partners manages revenue cycle operations
for Roper St. Francis Healthcare.
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.
- Bon Secours Mercy Health (Physician Group) – 2023
Revenue Cycle Award Winner: $250
Million to $500 Million Net
Revenue
Bon Secours Mercy Health is a
not-for-profit healthcare system based in Cincinnati, Ohio. Bon Secours Mercy Health
(Physician Group) generated approximately $333 million annual net revenue in 2023 and is a
first-time Revenue Cycle Award winner. Ensemble Health Partners
manages revenue cycle operations for Bon Secours Mercy Health
(Physician Group).
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.
- Bronson Methodist Hospital - 2023 Revenue Cycle Award Winner
- $500 Million to $1 Billion Net Revenue
Bronson Methodist Hospital is regional medical
center and children's hospital in Michigan and is part of Bronson Healthcare. It
generated approximately $915 million
annual net revenue in 2023 and is a first-time Revenue Cycle Award
winner.
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.
- Roper St. Francis Healthcare (Hospital Group) - 2023 Revenue
Cycle Award Winner: $1 Billion+ Net Revenue
Roper St. Francis Healthcare is a
not-for-profit health system with locations throughout South Carolina. Roper St. Francis Healthcare
generated approximately $160 million
annual net revenue in 2023 and is a first-time Revenue Cycle Award
winner. Ensemble Health Partners manages revenue cycle operations
for Roper St. Francis Healthcare.
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 the United States, supporting healthcare
leaders in optimizing performance, enhancing employee engagement
and retention strategies, and navigating an evolving market—all
with a focus on putting patients first. Through the Revenue Cycle
Awards program, Clarivate Healthcare Business Insights not only
highlights the achievements reflected in the metrics but also
showcases the initiatives behind them with exclusive content,
fostering connections between leaders from award-winning
organizations and the broader healthcare community.
To learn more about Clarivate Healthcare Business Insights,
visit www.clarivate.com/products/healthcare-business-insights/.
About Clarivate
Clarivate™ is a leading global provider of transformative
intelligence. We offer enriched data, insights & analytics,
workflow solutions and expert services in the areas of Academia
& Government, Intellectual Property and Life Sciences &
Healthcare. For more information, please
visit www.clarivate.com.
Media Contact
Catherine Daniel
Director, External Communications, Life Sciences &
Healthcare
newsroom@clarivate.com
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SOURCE Clarivate Plc
