Kodiak Solutions Presents 2023 Revenue Cycle Performance Awards
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 1,900 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.
