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Solutions to ongoing changes & challenges.
Reimbursement pressure
Increased regulatory oversight
Staffing shortages
Care model expansion
Heightened competition
Technology & data void
Limited resources
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Strategic Planning & Integration
Hospice & Palliative Care Core Services
Financial Support
& Analysis
Revenue Cycle
Management
Physician
Practice Management
Growth & Service Line Development
Strategic Partnerships / Mergers & Acquisitions
Referral to Admission
Cycle Time
Business Intelligence
Labor / Caseload Management & Position Control
Clinical Operations:
Operational Transformation
& Expense Management
Financial Support & Analysis
Freed Maxick brings a deep understanding with a depth of skill and knowledge in the finance areas to advise and support your needs in treasury management, financial reporting and decision support, service line analysis, internal controls and segregation of duties, financial operations, regulatory reporting, purchasing and disbursement, and payroll oversight.
Revenue Cycle Management
Our proven approach leverages people, knowledge, technology, and process redesign to enhance revenue cycle performance. We utilize an assessment process to identify opportunities to improve revenue capture, accelerate cash flow, reduce bad debt losses, and identify solutions that will allow us to determine the appropriate implementation plan and focus efforts that will address the barriers to achieving acceptable key revenue cycle indicators.
Partnering with Freed Maxick
What our clients say they need
Partnering with Freed Maxick
What our clients say they need
Drive visibility and accountability across all staff, especially when doing less with more, or talent gaps exist.
To leverage technology
To improve billing cycle and cash acceleration
Timely and accurate reporting
With expertise in building solutions to help move the organization to becoming data-driven and accountable to results.
Finding a partner with subject-matter expertise in Hospice and Technology is challenging.
A partner
To improve operations
To enhance clinical outcomes
To enable growth and business development
Access to diversified talent
Clearly defined processes, controls & responsibilities
Data collection beyond financial metrics to drive organizational value
Automated solutions to minimize need for manual transactions and reduce errors
Accurate & timely financial
reporting & analysis
Innovation & process improvement
Board material preparation
Dashboard reporting beyond traditional month-end reporting package
Delivery of reliable, accurate information to support decisions and keep members informed
Reliability of firm function vs. small internal team
Relieved of burden of managing and developing accounting staff
Wide range of expertise available for consultations as needed
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Driving your Strategy and Transformation
Revenue Cycle Management
Innovative care delivery models
Controlled costs
Maximized revenue and increased cashflow
Improved patient outcomes using our innovative business intelligence platform
Regulatory experts to address industry challenges
Partnership that leverages your strengths & capabilities
Specialized Hospice and Palliative Care team
Maximized revenue and increased cashflow
Regulatory experts to address industry challenges
Partnership that leverages your strengths & capabilities
Regulatory experts to address industry challenges
Specialized Hospice and Palliative Care team
Partnership that leverages your strengths & capabilities
Specialized Hospice and Palliative Care team
Partnership that leverages your strengths & capabilities
Specialized Hospice and Palliative Care team
Controlled costs
Innovative care delivery
models
Improved patient outcomes using our innovative business intelligence platform
Specialized Hospice and Palliative Care team
Controlled costs
Maximized revenue and increased cashflow
Improved patient outcomes using our innovative business intelligence platform
Partnership that leverages your strengths & capabilities
Improved patient outcomes using our innovative business intelligence platform
Regulatory experts to address industry challenges
Partnership that leverages your strengths & capabilities
Effective palliative, advanced illness, and primary care physician practice management for a hospice operation is essential for the successful delivery of quality care. Monitoring performance and using data-driven decisions can help ensure that the hospice practice maximizes revenue capture while providing excellent care to patients and driving quality outcomes and transition to hospice.
Physician Practice Management
At the core of hospice care is efficient patient access, support, comfort, and improved outcomes. You can increase your program's access and capabilities to serve more patients by understanding your true barriers. The way your organization enhances relationships with referral partners can be transformed by leveraging data and technology to capture market share. This will drive measurable change by increasing access to patients who need end-of-life care.
Growth & Service Line Development
Freed Maxick assists hospice organizations in understanding and aligning their strategic priorities to drive their mission, vision, and value. This planning process develops a roadmap that assists organizations in leveraging people, processes, and technology to drive change, achieve best practices and economies of scale, and collaborate in ways that better prepare each hospice to overcome the barriers that lie ahead.
Strategic Partnerships / Mergers & Acquisitions
Decreasing the referral to admission cycle time for hospice care is an incredibly important goal in order to provide high-quality patient care. By streamlining the process and making it more seamless, patients can receive the care they need quickly and efficiently.
Referral to Admission Cycle Time
Often, access to timely and reliable data in an intuitive dashboard is critical to identifying opportunities for cost reduction and change, as well as tracking the success of key imperatives. Our tools are designed by hospice industry experts, and enable a culture of accountability with no incremental investments in hardware, software or FTEs.
Business Intelligence
By implementing caseload management that matches quality with financial needs in a way that prioritizes patient comfort and quality, hospice providers can ensure their organization remains successful for years to come.
Labor / Caseload Management & Position Control
In order for hospices to manage their expenses and ensure long-term growth and sustainability, it is critical to implement an operational transformation strategy. By optimizing the management of financial resources, improving quality of care,and enabling access to more patients, an operational transformation will enhance profitability as well as strategic positioning overall.
Clinical Operations: Operational Transformation & Expense Management
Reimbursement pressure
Increased regulatory oversight
Staffing shortages
Limited resources
Care model expansion
Heightened competition
Technology & data void
Maximized revenue and increased cashflow
Regulatory experts to address industry challenges
Partnership
that leverages your strengths & capabilities
Reimbursement pressure
Regulatory experts to address industry challenges
Increased regulatory oversight
Specialized Hospice and Palliative Care team
Partnership
that leverages your strengths & capabilities
Staffing shortages
Regulatory experts to address industry challenges
Specialized Hospice and Palliative Care team
Specialized Hospice and Palliative Care team
Maximized revenue and increased cashflow
Partnership
that leverages your strengths & capabilities
Improved patient outcomes using our innovative business intelligence platform
Controlled costs
Heightened competition
Regulatory experts to address industry challenges
Partnership
that leverages your strengths & capabilities
Improved patient outcomes using our innovative business intelligence platform
Industries Healthcare Hospice and Palliative Care
Transformation: Growth, Performance, & Productivity
Productive and Total FTE reporting, Mileage reporting for cost control
Alignment of Daily Census to Productive FTEs to compute Case Loads by Discipline
Alignment of Visits with Payroll productive hours to compute individual visits per day
Visits per 8-hour day, Case Loads, FTEs, Mileage
Financial reporting & decision support
Technology & systems utilization
Budgeting & forecasting
Internal control review & compliance
Audit preparation
& coordination
Monthly account reconciliation
& review
Month-end
close process & standardization
Treasury management
Expertise and support to drive performance & accountability in key financial areas
Year over year through the utilization of improved collection processes
bad debt expense of NPR
3%
3
Directly due to the reductions in AR
in cash collection
10%
2
Through changes in follow up and strategic targeting of accounts
days in AR
25%
1
Hover to learn more
Proven outcomes in Revenue Cycle Management
/6
Our proven approach leverages people, knowledge, technology, and process redesign to enhance revenue cycle performance. We utilize an assessment process to identify opportunities to improve revenue capture, accelerate cash flow, reduce bad debt losses, and identify solutions that will allow us to determine the appropriate implementation plan and focus efforts that will address the barriers to achieving acceptable key revenue cycle indicators.
Revenue Cycle Management
Click to see what you get
Enhance Cash Flow and Revenue Capture
Staffing and organizational structure
Denials management, reporting, prevention, recovery, and monitoring
System maintenance
Proration, remittance, and transaction management
Contract management functionality, reporting, underpayment detection, and recovery
Billing, claims management, and revenue integrity functions
Activities Supported:
Performance improvement
System optimization
Technology enhancements
Process improvements
Our collaborative process for developing an initial revenue integrity implementation plan:
Strategy & Deliverables
Financial & Operational Transformation
Increase management’s ability to manage staff shortages and realign staff through the ability to monitor overtime utilization by Department, Discipline, Job code
Integrated “Key Referral Partner” report enables external reporting that identifies successes for individual referral sources including individual facilities and individual MDs, to allow for strategies to enhance market share from key referral sources
Reports and metrics allowing for evaluation of historical metrics to enable a clear focus on growth in census, to attain budgeted goals by level of care, geography, etc.
Comprehensive high-level view of all open referrals, enabling full accountability within the intake process, including delays that can lead to NTUCs and patient dissatisfaction
Transformation of patient access through support, process improvement and data-driven decisions
Collaboration in assessing your market position and growth potential in order to develop strategic growth plan
GROWTH THROUGH VISUALIZATION AND ACCOUNTABILITY
Reduce compliance risk by ensuring claims are billed correctly.
6
Prepare for new lines of business and additional payer requirements.
5
Achieve substantial and tangible return to organizations.
4
Understand the source of denials, helping to identify process improvement and better collections.
3
Visibility to claims process, improve turnaround time and cashflow.
2
Immediate visibility to avoid denials, mitigate write-offs, and collect cash for the services you’ve already provided.
1
Physician Practice Management Support & Transformation
Transformation: Growth, Performance, & Productivity
Physician practice operational expertise to assist in driving changes and outcomes
Drive provider outcomes & increase provider revenue
Provider scorecards
Provider volumes & productivity
Enhanced reimbursement opportunities
Value based outcomes to drive network & payor relationships
Clarity on contribution margin to Hospice service line
Visibility to drive accountability
Physician Practice Management Support & Transformation
Transformation: Labor & Staff Productivity
Transformation: Labor & Staff Productivity
VISIBILITY TO DRIVE ACCOUNTABILITY AND INCREASE EMPLOYEE ENGAGEMENT
Visualize Data and Proactively Manage
Staffing and organizational structure
Denials management, reporting, prevention, recovery, and monitoring
System maintenance
Proration, remittance, and transaction management
Contract management functionality, reporting, underpayment detection, and recovery
Billing, claims management, and revenue integrity functions
Activities Supported:
Performance improvement
System optimization
Technology enhancements
Process improvements
Our collaborative process for developing an initial revenue integrity implementation plan
Strategy & Deliverables
/6
Reduce compliance risk by ensuring claims are billed correctly.
6
Prepare for new lines of business and additional payer requirements.
5
Achieve substantial and tangible return to organizations.
4
Understand the source of denials, helping to identify process improvement and better collections.
3
Visibility to claims process, improve turnaround time and cashflow.
2
Immediate visibility to avoid denials, mitigate write-offs, and collect cash for the services you’ve already provided.
1
With our Revenue Cycle Business Intelligence, billing managers can actively monitor and manage accounts receivable to identify and work aged or risky account balances.
Revenue Cycle Management
See what you get
Enhance Cash Flow and Revenue Capture
Year over year through the utilization of improved collection processes
bad debt expense of NPR
3%
4
Directly due to the reductions in AR
in cash collection
10%
3
Through changes in follow up and strategic targeting of accounts
days in AR
25%
2
Proven outcomes in Revenue Cycle Management
Transformation: Labor & Staff Productivity
Transformation: Growth, Performance, & Productivity
Physician Practice Management Support & Transformation
Productive and Total FTE reporting, Mileage reporting for cost control
Alignment of Daily Census to Productive FTEs to compute Case Loads by Discipline
Alignment of Visits with Payroll productive hours to compute individual visits per day
Increase management’s ability manage staff shortages and realign staff through the ability to monitor overtime utilization by Department, Discipline, Job code
Visits per 8-hour day, Case Loads, FTEs, Mileage
Visualize Data and Proactively Manage
Visualize Data and Proactively Manage
Transformation: Labor & Staff Productivity
Integrated “Key Referral Partner” report enables external reporting that identifies successes for individual referral sources including individual facilities and individual MDs, to allow for strategies to enhance market share from key referral sources
Reports and metrics allowing for evaluation of historical metrics to enable a clear focus on growth in census, to attain budgeted goals by level of care, geography, etc.
Comprehensive high-level view of all open referrals, enabling full accountability within the intake process, including delays that can lead to NTUCs and patient dissatisfaction
Transformation of patient access through support, process improvement and data-driven decisions
Collaboration in assessing your market position and growth potential in order to develop strategic growth plan
Growth through visualization and accountability
Transformation: Growth, Performance, & Productivity
Physician practice operational expertise to assist in driving changes and outcomes
Drive provider outcomes & increase provider revenue
Provider scorecards
Provider volumes & productivity
Enhanced reimbursement opportunities
Value based outcomes to drive network & payor relationships
Clarity on contribution margin to Hospice service line
Visibility to drive accountability
Physician Practice Management Support & Transformation
Financial reporting & decision support
Technology & systems utilization
Budgeting & forecasting
Internal control review & compliance
Audit preparation
& coordination
Monthly account reconciliation & review
Month-end
close process & standardization
Treasury management
Expertise and support to drive performance & accountability in key financial areas
Financial & Operational Transformation
Strive for
more.
Talk with Freed Maxick about growing and transforming your organization.
CONTACT US
HOSPICE+
More revenue optimization.
As a Top 100 accounting and advisory firm, Freed Maxick partners with hospice, palliative care, and advanced illness organizations.
Our team brings deep industry expertise and compassionate understanding to every engagement. By combining C-suite insights with practical solutions, we help you transform strategic, financial, and operational challenges into sustainable growth.
More practical solutions.
More data-informed decisions.
True partners with aligned values.
At Freed Maxick, we share your commitment to patient-centered care. Meet our Hospice+ team, dedicated to helping you navigate complexity while staying true to your mission.