Nikolas Kristensen is a Managing Director in the FTI Consulting Corporate Finance/Restructuring practice and is based in Washington D.C. Mr. Kristensen is a member of the FTI Consulting Healthcare Solutions group. Mr. Kristensen has experience in revenue cycle improvement, process improvement and project management.
Mr. Kristensen’s experience includes revenue cycle assessments of multiple healthcare facilities to identify opportunities to optimize cash collection and accounts receivable performance. These assessments include evaluation of the processes in the service access, medical records and patient accounting areas.
Mr. Kristensen has managed revenue cycle redesign projects for large hospital systems, academic medical centers and community-based hospitals to improve service access operations, reduce accounts receivable, improve cash collections and improve the overall revenue position for provider entities. He completed revenue cycle assessments, as well as managed the implementation of a revenue cycle performance indicator system.
Mr. Kristensen analyzed financial data and conducted client interviews to estimate the financial benefits associated with improving cash flow and net revenue performance. He benchmarked the client’s financial performance against best practices. Mr. Kristensen also provided key recommendations and implementation plans to achieve performance improvement.
Mr. Kristensen has completed process improvement engagements for multi-hospital systems with focus on key revenue management areas, such as service access, care coordination, charge entry, medical records and patient accounting. He assisted project teams with problem resolution, project management and training issues. Mr. Kristensen strategically reallocated staff to increase efficiency in revenue cycle processes and cost reduction. He facilitated the standardization and creation of departmental policies, procedures and training materials for revenue cycle functions.
On an interim basis, Mr. Kristensen managed a revenue management department at a regional medical center. He managed the billing, collections and cash posting departments and evaluated each work process within the revenue management department to ensure work was assigned to the appropriate billing and collection staff. He worked with the admitting department and various clinical departments to reduce coding and charge capture backlogs. The engagement effectively accelerated cash flow and reduced accounts receivables for the medical center and project teams identified and implemented process improvement quick hits.
Prior to joining FTI Consulting, Mr. Kristensen provided advisory services to various healthcare providers throughout the United States. Prior to that, he was the director of finance at an academic medical center in Chicago.
Mr. Kristensen holds an M.B.A. with a concentration in finance from DePaul University and a B.A. from Ripon College. He is also a member of the Healthcare Finance Management Association.