Working together to drive improved revenue cycle outcomes
CHICAGO, Feb. 20, 2024 /PRNewswire-PRWeb/ — Impact Advisors, a leading healthcare management consulting firm, is a partner in Epic’s new Rev Cycle Partners program. Epic designed the program to help improve revenue cycle outcomes for mutual customers.
“Combining our award-winning revenue cycle services with expanded access to Epic tools, training, and methodology will deliver added benefits to our current and future customers.” – Jim Akimchuk, vice president at Impact Advisors.
“We are excited to partner with Epic on this new initiative,” said Andy Smith, managing partner and co-founder of Impact Advisors. “We bring over 17 years of experience building proven best practices with Epic for revenue cycle management through a clinically driven revenue cycle and technology-supported approach. We look forward to continuing to add value for our joint customers.”
Impact Advisors provides end-to-end, customized revenue cycle solutions to optimize clients’ use of Epic to achieve improved revenue cycle outcomes. Services include AR/DNFB reduction, denials reduction, patient balance/POS collections, charge capture improvement, and clinical documentation improvement. To reduce overall cost and labor management burden, Impact Advisors can transition a healthcare organization’s revenue cycle staff (all or in part) to the Impact Advisors team. This allows the healthcare provider to focus on patient care while providing the revenue cycle team with further skill and career advancement within an award-winning culture.
Impact Advisors has delivered proven results for many of its revenue cycle clients through operational enhancements and technology optimization, averaging a 3-5% improvement in net patient revenue, a 10-15% reduction in cost to collect, and substantial acceleration of cash.
As a Rev Cycle Partner, Impact Advisors will have more options to determine optimal system access with customers to Epic’s electronic health record system and suite of analytics and reporting tools, enabling a deeper level of service. Additionally, the firm will receive Epic-led training to ensure staff are well-equipped for success in their assigned job roles. Managers and leadership will also receive training on best practices and reporting. The collaboration will widen the channel of communication and feedback between the companies, allowing for ongoing refinement of tools and services for Impact Advisors clients.
“Combining our award-winning revenue cycle services with expanded access to Epic tools, training, and methodology will deliver added benefits to our current and future customers,” shared Jim Akimchuk, vice president at Impact Advisors. “With at least 20%-30% of provider organizations’ revenue cycle operations outsourced and projected to rise, we can help even more organizations improve their bottom lines.”
Impact Advisors received #1 Best in KLAS for Financial Improvement Services and #1 Best in KLAS Overall IT Services Firm in 2024. The firm has garnered 31 KLAS distinctions over the last 17 years. Additionally, Impact Advisors has been recognized as a “Best Place to Work” by Modern Healthcare for 14 years.
About Impact Advisors
Impact Advisors is a leading healthcare management consulting firm committed to solving the industry’s emerging and evolving challenges. Our high-performing team of clinical, financial, operations and technology experts collaborate to architect quality solutions and deliver measurable value for our clients. We are the most awarded consulting firm in healthcare, with services recognized among Best in KLAS® for 17 consecutive years and a culture designated “Best Place to Work” by Modern Healthcare for 14 years. To learn more about our service quality and innovative culture, visit http://www.impact-advisors.com.
Epic is a registered trademark of Epic Systems Corporation.
Media Contact
Catherine Povalitis, Impact Advisors, 815-282-9976, cpovalitis@chartwellagency.com, https://www.impact-advisors.com/
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SOURCE Impact Advisors
