Trauma Finance Optimization

Ask ​any hospital or trauma program leader to identify the most challenging aspect of trauma care, and the answer will be clear: trauma finance. Diligent Consulting can help assess current trauma center financial performance, forecast future performance, and identify opportunities to optimize revenue through trauma charges, managed care contract carve-outs, and efficient hospital processes (documentation, HIM, revenue cycle management).

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Trauma charges are an essential component of maintaining trauma center economic viability. When used properly, they allow trauma centers to recover some of the cost of maintaining trauma center readiness and meeting the high standards for trauma center verification. Diligent Consulting can help assess current practice and optimize the process to improve revenue.

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How Can Diligent Consulting Help?

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• Understand your trauma market to identify lost trauma volume (revenue) going to other trauma centers.

• Review current financial performance in terms of trauma readiness costs, revenue, and payer reimbursement.

• Conduct gap analyses to determine where the hospital lags in meeting trauma center verification standards and estimate the costs to the hospitals to meet those gaps.

• Prepare easy-to-read dashboards and reports that allow for ongoing monitoring and sensitivity analysis.

• Lead collaborative process to evaluate and optimizing the trauma charge process, including setting the amounts of trauma charges, ensuring documentation matches the legal standards for use of trauma charges, and developing a process for monitoring and real-time remediation.

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Who Can Benefit from This Service?

• Trauma program leaders

• Revenue cycle and hospital financial leaders

• New trauma centers building trauma charge process

• Existing trauma centers evaluating and optimizing trauma charges