Ideally, your vendors provide you and your team with reports that are an integral tool to measure key performance indicators, assist with monitoring current processes and guide your monthly budgets and projections. Depending on your role in the Revenue Cycle (Business Office, Patient Access, CFO,) customized and easy to understand data is necessary, but often difficult to obtain from your vendors.
• Have you asked your vendors to make changes to reports and never see the changes made?
• Is the data confusing or hard to read?
• Are the reports relevant and accurate?
One of the biggest frustrations we hear about from hospital management across the country is the way data is presented to them. We have seen other vendor reports inflate pending dollars and give deceptive conversion rates. The most effective solutions are timely customized reporting, user-friendly dashboards, real-time reporting and ad hoc requests with a 24-hour turnaround. Standard reports are quickly becoming outdated and vendors should be advancing their technologies to seamlessly provide each end user with only the information they request.