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Academic hospital
gains best-of-practice
revenue cycle
THE SITUATION
The State University of New York (SUNY) Upstate
Medical University operates two hospitals in Syracuse
and is the only academic medical center in central
New York. With more than 9,000 employees, the
university is the region’s largest employer.
Almost two years ago, we engaged Grant Thornton
with lofty expectations for facilitating a complete
revenue cycle overhaul, assisting us with an extremely
critical system conversion to Epic and ultimately
optimizing process flows in a post-Epic environment.
Upstate is a large public academic medical center,
and at the time, our revenue cycle indicators were
mediocre at best. We needed a consultant that could
quickly survey our organization and processes,
develop a plan of attack and help us execute. Grant
Thornton did just that, and more. Their team of highly
competent, professional and diligent consultants (led
by Lane Jackson and Matt Oliver) far exceeded my
expectations for the engagement. They were truly
invested in delivering results. In summary, today most
of our revenue cycle metrics are in the top quartiles of
the country and our Epic transition was characterized
as one of the most successful in the country. Hiring
Grant Thornton was the best investment I’ve made
during my tenure at SUNY Upstate!
— Stuart M. Wright
Chief Financial Officer, University Hospital
THE CHALLENGES
Upstate’s revenue cycle process and financial
performance were not optimal, with lagging cash
collections and a rapidly aging accounts receivable.
Management desired to appropriately restructure the
central business office, while optimizing processes
concurrent with an Epic build and implementation.
Upstate did not have an in-house team to lead
necessary improvements.
Grant Thornton LLP’s work was instrumental in Epic’s naming of SUNY’s Upstate
Medical University as a Top Quartile performer in Epic-generated metrics and awarding
of SUNY as the 2014 Epic Revenue Cycle Most Valuable Performer. Epic is Upstate
Medical University’s electronic health record (EHR) management application vendor.
Case study
Client
SUNY Upstate
Medical University
Sector
Health care
Client challenge
Revenue cycle capabilities
Services provided
Process and
structure improvements
Case study: Academic hospital gains best-of-practice revenue cycle
“Grant Thornton” refers to Grant Thornton LLP, the U.S. member firm of Grant Thornton International Ltd (GTIL). GTIL and its member firms are not a
worldwide partnership. All member firms are individual legal entities separate from GTIL. Services are delivered by the member firms. GTIL does not
provide services to clients. GTIL and its member firms are not agents of, and do not obligate, one another and are not liable for one another’s acts or
omissions. Please visit grantthornton.com for details.
© 2015 Grant Thornton LLP  |  All rights reserved  |  U.S. member firm of Grant Thornton International Ltd
Connect with us
	grantthornton.com
	@grantthorntonus
	linkd.in/grantthorntonus
Lane Jackson
Partner
Health Care Advisory Services
Grant Thornton LLP
T +1 704 632 3510
E lane.jackson@us.gt.com
Matt Oliver
Senior Manager
Health Care Advisory Services
Grant Thornton LLP
T +1 404 475 0088
E matt.oliver@us.gt.com
ContactWHAT THE TEAM DID
To gain support for identification and implementation
of revenue cycle improvements, SUNY turned to
Grant Thornton. The Grant Thornton professionals
had demonstrated deep revenue cycle experience,
patient accounting system and IT knowledge, and a
collaborative approach to implementing change.
SUNY and Grant Thornton formed an integrated
team to build and implement a “best-of-practice”
revenue cycle with Epic. The team:
•	 Restructured the business office to staff to
volume, and to increase individual accountability
and productivity
•	 Deployed Grant Thornton staff with client
leadership in key revenue cycle areas
•	 Collaboratively re-engineered processes to aid
in achievement of best practices and successful
system transition
•	 Developed pre- and post-Epic cutover risk
mitigation strategies
•	 Supported design and build to incorporate leading
practice workflow with the goal of maximizing
revenue realization, and positively affecting
operations and financial performance
“The ability to strengthen the financial performance of
a hospital enables them to focus on what’s important
— patient care quality and how to better serve the
needs of their communities,” said Lane Jackson,
Grant Thornton Health Care Advisory Services
partner and member of the team.
OUTCOMES
A new financial structure, streamlined processes and
better-than-expected cash flow were the results of the
collaboration between SUNY staff and Grant Thornton
professionals. The optimized revenue cycle processes
were implemented with cash baselines recovering in less
than half the average time.
Grant Thornton’s significant contributions include
the following benefits to Upstate:
•	 $30 million in additional one-time cash generated
prior to the go-live of the EHR and patient
accounting system.
•	 $15 million in additional revenue on a recurring
annual basis is on pace.
•	 The traditional cash decline, encountered
by most providers during implementation,
wasn’t experienced.
•	 An historical cash baseline was obtained in eight
weeks, far exceeding the standard performance of
20 weeks.
SUNY has engaged Grant Thornton to continue with
optimization services.
Content in this publication is not intended to answer specific questions or suggest suitability of action in a particular case. For additional information about the issues
discussed, consult a Grant Thornton LLP client service partner or another qualified professional.
Do you have similar challenges?
Read “Revenue cycle improvements help assure
hospital’s survival” (www.grantthornton.com/revcyclesaves)
to see how Grant Thornton’s revenue cycle solutions
worked for another hospital.

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Academic hospital gains best-of-practice revenue cycle

  • 1. Academic hospital gains best-of-practice revenue cycle THE SITUATION The State University of New York (SUNY) Upstate Medical University operates two hospitals in Syracuse and is the only academic medical center in central New York. With more than 9,000 employees, the university is the region’s largest employer. Almost two years ago, we engaged Grant Thornton with lofty expectations for facilitating a complete revenue cycle overhaul, assisting us with an extremely critical system conversion to Epic and ultimately optimizing process flows in a post-Epic environment. Upstate is a large public academic medical center, and at the time, our revenue cycle indicators were mediocre at best. We needed a consultant that could quickly survey our organization and processes, develop a plan of attack and help us execute. Grant Thornton did just that, and more. Their team of highly competent, professional and diligent consultants (led by Lane Jackson and Matt Oliver) far exceeded my expectations for the engagement. They were truly invested in delivering results. In summary, today most of our revenue cycle metrics are in the top quartiles of the country and our Epic transition was characterized as one of the most successful in the country. Hiring Grant Thornton was the best investment I’ve made during my tenure at SUNY Upstate! — Stuart M. Wright Chief Financial Officer, University Hospital THE CHALLENGES Upstate’s revenue cycle process and financial performance were not optimal, with lagging cash collections and a rapidly aging accounts receivable. Management desired to appropriately restructure the central business office, while optimizing processes concurrent with an Epic build and implementation. Upstate did not have an in-house team to lead necessary improvements. Grant Thornton LLP’s work was instrumental in Epic’s naming of SUNY’s Upstate Medical University as a Top Quartile performer in Epic-generated metrics and awarding of SUNY as the 2014 Epic Revenue Cycle Most Valuable Performer. Epic is Upstate Medical University’s electronic health record (EHR) management application vendor. Case study Client SUNY Upstate Medical University Sector Health care Client challenge Revenue cycle capabilities Services provided Process and structure improvements
  • 2. Case study: Academic hospital gains best-of-practice revenue cycle “Grant Thornton” refers to Grant Thornton LLP, the U.S. member firm of Grant Thornton International Ltd (GTIL). GTIL and its member firms are not a worldwide partnership. All member firms are individual legal entities separate from GTIL. Services are delivered by the member firms. GTIL does not provide services to clients. GTIL and its member firms are not agents of, and do not obligate, one another and are not liable for one another’s acts or omissions. Please visit grantthornton.com for details. © 2015 Grant Thornton LLP  |  All rights reserved  |  U.S. member firm of Grant Thornton International Ltd Connect with us grantthornton.com @grantthorntonus linkd.in/grantthorntonus Lane Jackson Partner Health Care Advisory Services Grant Thornton LLP T +1 704 632 3510 E lane.jackson@us.gt.com Matt Oliver Senior Manager Health Care Advisory Services Grant Thornton LLP T +1 404 475 0088 E matt.oliver@us.gt.com ContactWHAT THE TEAM DID To gain support for identification and implementation of revenue cycle improvements, SUNY turned to Grant Thornton. The Grant Thornton professionals had demonstrated deep revenue cycle experience, patient accounting system and IT knowledge, and a collaborative approach to implementing change. SUNY and Grant Thornton formed an integrated team to build and implement a “best-of-practice” revenue cycle with Epic. The team: • Restructured the business office to staff to volume, and to increase individual accountability and productivity • Deployed Grant Thornton staff with client leadership in key revenue cycle areas • Collaboratively re-engineered processes to aid in achievement of best practices and successful system transition • Developed pre- and post-Epic cutover risk mitigation strategies • Supported design and build to incorporate leading practice workflow with the goal of maximizing revenue realization, and positively affecting operations and financial performance “The ability to strengthen the financial performance of a hospital enables them to focus on what’s important — patient care quality and how to better serve the needs of their communities,” said Lane Jackson, Grant Thornton Health Care Advisory Services partner and member of the team. OUTCOMES A new financial structure, streamlined processes and better-than-expected cash flow were the results of the collaboration between SUNY staff and Grant Thornton professionals. The optimized revenue cycle processes were implemented with cash baselines recovering in less than half the average time. Grant Thornton’s significant contributions include the following benefits to Upstate: • $30 million in additional one-time cash generated prior to the go-live of the EHR and patient accounting system. • $15 million in additional revenue on a recurring annual basis is on pace. • The traditional cash decline, encountered by most providers during implementation, wasn’t experienced. • An historical cash baseline was obtained in eight weeks, far exceeding the standard performance of 20 weeks. SUNY has engaged Grant Thornton to continue with optimization services. Content in this publication is not intended to answer specific questions or suggest suitability of action in a particular case. For additional information about the issues discussed, consult a Grant Thornton LLP client service partner or another qualified professional. Do you have similar challenges? Read “Revenue cycle improvements help assure hospital’s survival” (www.grantthornton.com/revcyclesaves) to see how Grant Thornton’s revenue cycle solutions worked for another hospital.