Kodiak Solutions Presents 2023 Revenue Cycle Performance Awards
Six health systems receive awards during 2024 Kodiak Solutions Healthcare Virtual Symposium
Kodiak Solutions recognized six health systems for revenue cycle performance excellence during its 2024 Healthcare Virtual Symposium, held today (March 13).
The Revenue Cycle Performance Awards celebrate improvement in healthcare revenue cycle operations. Awards were determined based on organizational performance on top revenue cycle KPIs within the patented Kodiak Solutions Revenue Cycle Analytics (RCA) software. Kodiak RCA tracks all claims activity for more than 1,850 hospitals and 250,000 physicians.
Five health systems were recognized as 2023 Top Performing Revenue Cycle recipients:
Banner Health
Baylor Scott & White
Cottage Health
Intermountain Health Peaks Region
Scripps Health
CHRISTUS Health was recognized as the 2023 Most Improved Revenue Cycle operation.
“2023 was another year of complex challenges for revenue cycle teams around the country, underscoring the impressive accomplishments of the health systems recognized with Revenue Cycle Performance Awards,” said Colleen Hall, senior vice president and Revenue Cycle leader at Kodiak Solutions. “We congratulate the award recipients for their excellent work to ensure their health systems are paid appropriately for the vital care they deliver.”
About the Awards
The Revenue Cycle Performance Awards recognized awardees in multiple revenue cycle categories. The Top Revenue Cycle Performance Award, presented to five organizations, was determined based on revenue cycle KPIs monitored through Kodiak Solutions’ Performance Analytics products, including:
Bad debt as a percentage of gross patient service revenue
Credit days
DNFB (discharged not final billed) days
Initial denial rate
Insurance payment gap denied vs. non-denied
Late charges as a percentage of gross patient service revenue
Point of service cash collections
Six-month lagged cash to net revenue
Self-pay after insurance patient collection rates
True A/R (accounts receivable) greater than 90 days
True A/R days
Organizations were scored using Kodiak’s Revenue Cycle Index Score, which weighs each revenue cycle KPI to create a score indicative of overall revenue cycle performance within the past 12 months.
About Kodiak Solutions
Kodiak Solutions is a leading technology and tech-enabled services company that simplifies complex business problems for healthcare provider organizations. For nearly two decades as a part of Crowe LLP, Kodiak created and developed our proprietary net revenue reporting solution, Revenue Cycle Analytics. Kodiak also provides a broad suite of software and services in support of CFOs looking for solutions in financial reporting, revenue cycle, risk and compliance, and unclaimed property. Kodiak’s 400 employees engage with more than 1,850 hospitals and 250,000 practice-based physicians, across all 50 states, and serve as the unclaimed property outsourcing provider of choice for more than 2,000 companies. To learn more, visit our website.
For Media:
Vince Galloro
(312) 625-2137
vince.galloro@sunrisehealth.com
