Navigating today’s complex environment
An efficient revenue cycle is vital in establishing a financially sustainable future for any healthcare provider. However, many organizations lack in-depth insight into the many components of their RCM process, including:
- tedious tasks that are prone to human error
- productivity of full-time employees (FTEs)
- service line performance
- payer contracts not meeting benchmarks
- inaccurate recording of charge codes
- financial optimization of the EMR
- inefficient processes
Several recent factors – rising healthcare costs, tighter operating margins, staffing shortages, supply chain issues and inflation – have further exacerbated the importance of having an effective RCM process.