Kodiak is rolling out new RCA Next features and functionality to advance net revenue reporting, including data customizations and module automations.

We’re excited to keep expanding the capabilities of RCA Next, the ground-up redesign of the Kodiak Revenue Cycle Analytics net revenue reporting solution. In this article, we’ll share information about some of the latest features, functionality, and reporting improvements. If you’re not already up to speed, be sure to get caught up on some of the other updated features and functionality, including training and educational opportunities designed to make you more confident and comfortable navigating RCA Next’s user interface. 

Data customizations provide more flexibility 

RCA Next now offers several new options for tailoring the platform’s standard data customizations to best fit your organization’s needs. Working with Kodiak’s RCA Next implementation specialists, users can choose the options to enable or disable for each feed on the platform. Some of the most popular data customizations include: 

• Aged Trial Balance Account Merge: Designed for merging duplicate account numbers within a single aged trial balance file, this data customization now has an additional configuration that allows users to enable it for all facilities within the data feed, an individual facility, or a subset of facilities.
• Bad Debt Quasi Variance Calculation: RCA Next now has new logic for calculating bad debt quasi variances. The application uses the change in bad debt aged trial balance to determine the amount of a bad debt quasi posting. The aged trial balance is supported by data from the organization’s patient accounting system. Then, roll-forward variances, in which the ending aged trial balance does not equal the beginning aged trial balance plus payment adjustments and charges, will post to a variance transaction. This results in two separate transaction code mappings, allowing users to distinguish between a true bad debt quasi and an account variance. With this feature, any bad debt quasi posting in the platform truly will reflect changes in bad debt, providing your team with valuable insights. In addition, RCA Next users have the option to select the posting frequency. Daily frequency is a popular option, but you can select monthly if that better fits your organization’s needs. 
• Current Insurance calculation: There are a few new options within this data customization. If users choose to keep it disabled, the platform will use the current insurance provided in the user’s raw aged trial balance file. If users choose to calculate current insurance, they can enable this customization and then select the type and frequency of the calculation in the adjustment section. Your organization can choose to calculate the current insurance using the insurance balances from the “account insurance” file, or you can choose to set the current insurance as equal to the primary insurance. After choosing this designation, users can also select the calculation time frame. For example, some users might calculate the current insurance always, which uses historical data and daily files. Others might choose a more specific calculation, selecting to be calculated from before or after a certain date.  
• Self-Pay After Insurance and Secondary Insurance After Insurance: Within these adjustment sections in RCA Next, users can apply this calculation for financial class, system insurance provider group, or both. Users can designate their organization’s self-pay insurance providers by code, which can be referenced within both the Self-Pay After Insurance and Secondary Insurance After Insurance data customizations.  
  
  

In addition to being able to review and manage data customizations within RCA Next, users can now create new data customizations that can be applied to their data. Users can designate a code and name for each customization. There is a field to enter a brief description for the customization. From there, users can specify the logic for the new data customization by selecting from a large list of operators.  

New module automations and more 

In addition to these data customizations, Kodiak has rolled out other RCA Next features, including new automations in the Daily Balancing module. Accessed through the RCA Next platform’s Analytics module, the Daily Balancing module now offers more automations to help with data reporting, review, and approval. Users also can set thresholds for their organization for automatic approvals. Platform users will work with Kodiak’s RCA Next implementation specialists during the migration process to use the application’s full automation features. 

We also made improvements to the Reporting module, including the ability to move and pivot columns, drill down, and add custom calculated fields within the module. As users work through their month-end close process, they can revisit any custom reports created or our standard reporting and set specific parameters and home in on specific data to identify outliers. Being able to review data at the account level allows users to determine what is driving anomalies in their model such as changes to unapplied discounts or change in priors. The level of analyzation afforded by customizing columns in reporting modules ultimately can help streamline your team’s month-end close. 

What’s next for RCA Next? 

These are just some of the new features, functionalities, and customizations in RCA Next. We will continue to deliver new features, functionalities, and customization capabilities to the application that will drive net revenue reporting improvements throughout your organization. 

Transitioning to RCA Next from RCA is a multiphase process with a number of steps in between initial installation and go-live. You can start many of the steps today. For more information, contact Kodiak’s specialists to learn more and get started on your journey to the future of net revenue reporting on RCA Next.