Regarding people resource management and staffing, Avec has significantly multiplied its employee strength over the last couple years, growing exponentially from 300 to 850 employees and welcomed 100 new personnel onboard in January alone. “With successfully yielding revenue management efficiencies in smaller hospitals, we have piqued the interest of a significant clientele who are now seeking similar efficiencies from us for larger and more advanced health systems and enterprises,” states John P. Evensen, Co-founder and COO of Avec Health Solutions.
Avec endorses an effective approach to Revenue Cycle Management (RCM), beginning with accumulating research data followed by data crunching and in-depth analytics to deliver tailored solutions suited to the client’s requirements. Another factor that has helped Avec carve out its niche in the healthcare RCM sector is a rigorous six sigma methodology that the company has implemented in its end-to-end revenue cycle, subsequently eliminating errors as high in number as 1000 occurrences per execution and lowering costs for clients.
An important and effective feature that Avec has added in its arsenal is a state-of-the-art customizable BI dashboard, as an add-on of the RCM solution, to provide C-suite executives with real-time visibility into their companies’ financial data.
What makes Avec’s RCM second to none is its nimble approach. The firm competently addresses all revenue management issues from a resource and staffing perspective. For instance, if a hospital requires A/R follow up wherein the process includes authorization, intelligibility, and cash posting, the Avec team can perform all the functions in a silo or the organization can completely outsource their revenue cycle to Avec. Besides, Avec can also deploy a hybrid approach wherein the expertise of Avec team can be blended with that of the client’s team to accomplish a given task, thereby optimizing resources at both ends and reducing the overall operating cost.
As an example, a health system that runs multiple hospitals— both large organizations and smaller CAH facilities—was in desperate need of revenue optimization and efficiencies in the small-scale hospitals. The firm that so far managed revenue cycle in bigger health systems encountered major challenges in employing the right talent for the small rural hospitals. “After engaging in a proof of concept with the health system, Avec assisted them in augmenting staff in their local hospital, adding three more personnel to their group. Today, we support 7 of their rural locations, and the firm is looking forward to work with Avec in six new locations that they are going introduce in the second quarter of the year,” explains Simon Huges, Co-founder and CEO of Avec Health Solutions.
What makes Avec’s RCM second to none is its nimble approach
Presently, Avec has operating facilities in three cities in the US and two offshore. Venturing ahead, Avec plans on adding two other offshore facilities to acquire bilingual capabilities. “We are investing in our operating infrastructure so that we can accommodate the growth that we are anticipating this year,” concludes Evensen.