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HOSPICE+
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.
More revenue optimization.
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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.
Industries Healthcare Hospice and Palliative Care
Solutions to ongoing changes & challenges.
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Reimbursement pressure
Reimbursement pressure
Increased regulatory oversight
Increased regulatory oversight
Partnership that leverages your strengths & capabilities
Partnership that leverages your strengths & capabilities
Partnership that leverages your strengths & capabilities
Partnership that leverages your strengths & capabilities
Partnership that leverages your strengths & capabilities
Partnership that leverages your strengths & capabilities
Improved patient outcomes using our innovative business intelligence platform
Improved patient outcomes using our innovative business intelligence platform
Improved patient outcomes using our innovative business intelligence platform
Improved patient outcomes using our innovative business intelligence platform
Controlled costs
Controlled costs
Controlled costs
Regulatory experts to address industry challenges
Regulatory experts to address industry challenges
Regulatory experts to address industry challenges
Regulatory experts to address industry challenges
Specialized Hospice and Palliative Care team
Specialized Hospice and Palliative Care team
Specialized Hospice and Palliative Care team
Specialized Hospice and Palliative Care team
Specialized Hospice and Palliative Care team
Maximized revenue and increased cashflow
Maximized revenue and increased cashflow
Maximized revenue and increased cashflow
Innovative care delivery
models
Innovative care delivery models
Driving your Strategy and Transformation
What our clients say they need
What our clients say they need
Partnering with Freed Maxick
Partnering with Freed Maxick
A partner
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.
Timely and accurate reporting
To improve billing cycle and cash acceleration
To improve operations
To enhance clinical outcomes
To enable growth and business development
To leverage technology
Drive visibility and accountability across all staff, especially when doing less with more, or talent gaps exist.
Accurate & timely financial
reporting & analysis
Delivery of reliable, accurate information to support decisions and keep members informed
Dashboard reporting beyond traditional month-end reporting package
Board material preparation
Innovation & process improvement
Automated solutions to minimize need for manual transactions and reduce errors
Data collection beyond financial metrics to drive organizational value
Clearly defined processes, controls & responsibilities
Access to diversified talent
Wide range of expertise available for consultations as needed
Relieved of burden of managing and developing accounting staff
Reliability of firm function vs. small internal team
Hospice & Palliative Care Core Services
Strategic Planning & Integration
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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.
Financial Support
& Analysis
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.
Physician Practice Management
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.
Revenue Cycle
Management
Physician
Practice Management
Strategic Partnerships / Mergers & Acquisitions
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.
Business Intelligence
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.
Growth & Service Line Development
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.
Labor / Caseload Management & Position Control
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.
Growth & Service Line Development
Referral to Admission Cycle Time
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.
Clinical Operations: Operational Transformation & Expense Management
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.
Strategic Partnerships / Mergers & Acquisitions
Referral to Admission
Cycle Time
Business Intelligence
Labor / Caseload Management & Position Control
Clinical Operations:
Operational Transformation
& Expense Management
Revenue Cycle Management
Activities Supported:
Strategy & Deliverables
Billing, claims management, and revenue integrity functions
Our collaborative process for developing an initial revenue integrity implementation plan:
Contract management functionality, reporting, underpayment detection, and recovery
Proration, remittance, and transaction management
Process improvements
System maintenance
Technology enhancements
System optimization
Denials management, reporting, prevention, recovery, and monitoring
Performance improvement
Staffing and organizational structure
Enhance Cash Flow and Revenue Capture
Click to see what you get
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.
Understand the source of denials, helping to identify process improvement and better collections.
3
Immediate visibility to avoid denials, mitigate write-offs, and collect cash for the services you’ve already provided.
1
Achieve substantial and tangible return to organizations.
4
Prepare for new lines of business and additional payer requirements.
5
Visibility to claims process, improve turnaround time and cashflow.
2
Reduce compliance risk by ensuring claims are billed correctly.
6
/6
1
25%
days in AR
Through changes in follow up and strategic targeting of accounts
2
10%
in cash collection
Directly due to the reductions in AR
3
3%
bad debt expense of NPR
Year over year through the utilization of improved collection processes
Proven outcomes in Revenue Cycle Management
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Financial & Operational Transformation
Expertise and support to drive performance & accountability in key financial areas
Internal control review & compliance
Audit preparation
& coordination
Monthly account reconciliation
& review
Technology & systems utilization
Month-end
close process & standardization
Treasury management
Budgeting & forecasting
Financial reporting & decision support
Transformation: Growth, Performance, & Productivity
Transformation: Labor & Staff Productivity
Physician Practice Management Support & Transformation
Transformation: Growth, Performance, & Productivity
GROWTH THROUGH VISUALIZATION AND ACCOUNTABILITY
Collaboration in assessing your market position and growth potential in order to develop strategic growth plan
Transformation of patient access through support, process improvement and data-driven decisions
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
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.
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
Transformation: Labor & Staff Productivity
VISIBILITY TO DRIVE ACCOUNTABILITY AND INCREASE EMPLOYEE ENGAGEMENT
Visualize Data and Proactively Manage
Visits per 8-hour day, Case Loads, FTEs, Mileage
Increase management’s ability to manage staff shortages and realign staff through the ability to monitor overtime utilization by Department, Discipline, Job code
Alignment of Visits with Payroll productive hours to compute individual visits per day
Alignment of Daily Census to Productive FTEs to compute Case Loads by Discipline
Productive and Total FTE reporting, Mileage reporting for cost control
Physician Practice Management Support & Transformation
Visibility to drive accountability
Clarity on contribution margin to Hospice service line
Value based outcomes to drive network & payor relationships
Enhanced reimbursement opportunities
Provider volumes & productivity
Provider scorecards
Drive provider outcomes & increase provider revenue
Physician practice operational expertise to assist in driving changes and outcomes