While many radiation oncology administrators are optimistic that the worst cuts are behind us, others are concerned about what’s ahead. Almost everyone agrees though that the cost of delivering radiation therapy continues to rise. Programs are consolidating, with fewer independent practices and greater private equity involvement, while workforce shortages continue to compound operational strain.
How can you achieve this growth with Bridge Oncology?
Working with radiation therapy departments of all sizes, Bridge Oncology has examined a variety of factors influencing growth from a clinical, operational, and financial perspective. Successful long-term growth boils down to strategic planning and adaptation in three key areas:
- Diversified revenue streams (e.g., radiopharmaceuticals, benign disease treatment)
- Smarter staffing models
- Cross-specialty alignment to support complex care
Before you can define and execute a sustainable long-term vision, however, you must have tactical resilience.
What’s the number one way to be resilient?
**Recover the revenue you’re missing**
Bridge recently completed a comprehensive audit of a multi-site radiation oncology service line, examining processes, workforce functions, and revenue cycle operations. The audit revealed systemic breakdowns that had gone undetected at the departmental and central business office (CBO) levels.
What did Bridge find?
- $4.2 million in missed revenue identified annually due to workflow gaps and unbilled services.
- More than 23% of charges were either undercoded or not submitted at all, primarily due to documentation errors, handoffs, and lack of standardization.
At this practice, even the smallest inefficiencies were contributing to significant financial loss, and now the Bridge team is working with the department and CBO to fix it, not just describe it.
No time or money to deal with this?
Let’s start with one site and see what we find. You might be surprised to discover how a little can go a long way. Contact us for a complimentary consult.
