The Patient Revenue Management Organization
The Patient Revenue Management Organization (PRMO) is the centralized billing and collections office for Duke University Health System. Formed in 2001, the PRMO focuses on streamlining the revenue cycle through enhanced management of Scheduling, Registration, Coding, Reimbursement, Billing, Collections, Managed Care Contracting, and Customer Service. The organization consists of over 1,500 employees and in fiscal year 2008 the PRMO was responsible for billing $4 billion in gross charges while collecting $2 billion in cash.
The PRMO is a wholly-owned subsidiary of the Duke University Health System. The mission of the organization is to provide patients with a first class administrative experience, commensurate with their clinical experience, while ensuring that Duke University Health System and the physicians associated with Duke are reimbursed accurately and efficiently for the services provided.
As a centralized business office, the Patient Revenue Management Organization strives to reduce days in accounts receivable and maintain strong cash flow, while retaining the values of customer service, patient friendliness, innovation, cost effectiveness, and support of the clinical enterprise.
A Unique Opportunity
As the healthcare reimbursement environment continues to grow in complexity, a new level of expertise is required to understand the administrative, strategic and clinical implications of all aspects of the revenue cycle. Talented individuals are needed to fill revenue cycle management positions as a crucial part of any healthcare providerís overall strategic mission.
Healthcare providers are re-focusing their core businesses and improving net revenue through better management of the revenue cycle in key areas such as:
- Enhanced understanding of Patient Access
- Customer Service with a focus on more aggressive managed care contracting
- Reduction in accounts receivable