Financial Strategies

Innovative Healing Systems strives to optimize outcomes and reimbursement while minimizing expenditures for our partner hospitals through holding the Wound Healing Institute staff and physicians to a high standard of clinical and fiscal accountability. Through our specialized financial departments, training and education programs, customized electronic management systems, and diligent management supervision, we capitalize on fiscal aspect of the Wound Healing Institute. Examples of support services we provide to ensure the hospital’s success include:

• Centralized Insurance Authorization
  • Expedite Managed-Care Approvals
  • Streamline 24 Hour Authorization
  • Reduce Patient Stay
  • Enhance Clinical Outcome
  • Support Case Reviews
  • Organize Letters of Medical Necessity
• Charge Master Review
• Electronic Health Records
• Copayment Collection Strategies
• Cost Report Analysis
• Billing & Coding Education
• Budget Analysis & Reporting
• Staffing Control Matrices
• Inventory Review
• Demographic Analysis
• Marketing Programs & Support

For critical access hospitals, Innovative Healing Systems appreciates the complexities of filing and settling the hospital’s cost reports, and we provide the expertise to properly account for Wound Healing Institute’s benefits which will yield incremental gains across hospital operations.

In today's healthcare environment, it's imperative to grow, achieve, and obtain the reimbursements that are available and provide the services that will improve the quality of life for your patients. Innovative Healing Systems has developed processes to collaborate with you to add or restructure a wound care and hyperbaric service with the commitment to deliver a clear picture of your revenue situation and how to improve it.