Successfully Navigating Health Care Reform Vol. 1 | Page 4

Experience the

Brown Smith Wallace Difference
Operational, Financial
and Process Improvement

Patient Care Accounting
and Back-Office Outsourcing
With the increasing speed of the implementation
of PPACA, understanding your costs related to
the quality of the care you are providing is critical
to achieving the government’s triple aim goal of 1)
lower cost, 2) higher quality and 3) an enhanced
patient experience. You cannot depend upon current
reimbursement or billing rates to be the benchmark
of understanding cost and making contracting
decisions. Understanding your costs in relation to
margin under bundled pricing and risk contracts
such as Medicare Shared Savings or capitation is
imperative.
Many providers are skilled at determining their
performance related to predetermined benchmarks
while others are skilled at measuring financial
performance. However, very few providers have the
breadth and depth of resources to measure the cost
of quality and the related return on investment for
improving those measures.
The Brown Smith Wallace team works with providers
to capture, measure and report appropriate financial
information related to both internal and external quality
indicators. This service allows our team to work with
your current financial and operational IT systems and
cull out the appropriate information. The information
is then reported back to each provider through real
time financial dashboards and benchmark reports
with appropriate recommendations for improvement.

Additionally, some providers have determined that
outsourcing their back office financial functions is
not only more economical, but reduces the risk of
fraud, theft and risk of sharing inappropriate financial
information.
In addition to providing the appropriate cost and
quality measures, some of the back office services
include:
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Interim CFO/controller
Management use financial reporting
Financial process monitoring
Strategic cash management
Accounts payable/receivable management
Bank and credit card reconciliations
Account analyses
Budgeting
Payroll tax reporting and
services
• Sales and use tax consulting
• On-site assistance with
month-end closings
• Tax preparation

Health Care Reform has changed the landscape
of the Health Care industry and is now demanding
greater efficiency, increased productivity and cost
control against a backdrop of quality measures.
Further, those quality measures have become readily
available to all stakeholders including customers and
competitors. The need for providers to improve their
operations and underlying processes is more critical
today than ever before.
Positive operational changes must be supported by
a systematic approach of process improvements
through a set of measurable techniques that allows
for excellence. Although Brown Smith Wallace
draws upon many techniques for improvement,
one such approach includes Lean Six Sigma.
Six Sigma follows the Define, Measure, Analyze,
Improve, Control (DMAIC) methodology