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Revenue Cycle Matters - Insights & Tips to Improve Healthcare Collections

Why Healthcare CFOs Are Seeking Out Revenue Cycle Experts in 2017

December 15, 2016

CFO-Seeking-Revenue-Cycle-Manager.jpgIt's becoming increasingly difficult for healthcare CFOs to focus on the revenue cycleHealthcare CFOs face rapidly changing payer systems, more complex regulations, and an outdated digital infrastructure.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.  

Competitive Edge  

  • 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 

Financial Strength   

  • Reduce denials –lower A/R 
  • Reduce cost to collect 
  • Optimize revenue cycle 
  • Accelerate cash flow 
  • Increased revenue with shrinking margins 

Industry Leader  

  • 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.  

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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. 

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