It's becoming increasingly difficult for healthcare CFOs to focus on the revenue cycle. Healthcare CFOs face rapidly changing payer systems, more complex regulations, and an outdated digital infrastructure. In addition, health care providers will transition to value-based payment reimbursement models in 2017.
Is your revenue cycle management plan set to evolve with these changes? More CFOs are recognizing the value of partnering with a revenue cycle management expert.
Key reasons your healthcare system cannot afford to go without an RCM expert in 2017.
- Expertise guidance in niche markets (Rural Healthcare, Critical Access, etc.)
- Prepare for value-based reimbursement environment
- Extensive medical/billing knowledge
- Technology and process improvements
- Transparency across the revenue cycle
- Improve patient satisfaction and quality of care
- Reduce denials –lower A/R
- Reduce cost to collect
- Optimize revenue cycle
- Accelerate cash flow
- Increased revenue with shrinking margins
- Benchmark best practices
- No Compromise Compliance Standards
CFO’s are hit with a lot of information from RCM vendors, it can be hard to see thru the noise. Take a proactive approach to search out partners where you can leverage the knowledge and expertise of an RCM expert to navigate the myriad of challenges in 2017.
RCM experts should be experienced, accurate, and efficient in achieving results for your health care system. Revenue cycle management experts should be evaluated based on these criteria and providers should include performance metrics in contracts to ensure RCM partners deliver.
Change is hard. Partner with a revenue cycle management expert and set your healthcare system up for success in the new year.