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e-Book
It May Be Time To Outsource Your Healthcare RCM
Summary
Learn the six signs you should look for to improve your healthcare organizations’ financial outcomes and patient satisfaction rankings.
The Changing Landscape
A survey of hospital CFOs shows 38% outsource all or part of their revenue cycle functions, and another 24% are considering it.1 According to a recent Black Book report, 83% of hospitals outsource a portion of their accounts receivable (AR) and collections, 58% of their contract management, and 55% of denial management, while 68% of physician groups with 10-plus providers outsource collections and/or claims management.3 These leaders see that partnering with an outside revenue cycle management expert can deliver benefits, such as higher reimbursement, better cash flow, improved margins, and increased patient satisfaction.
Potential Advantages of Outsourcing Revenue Cycle Management
- Higher reimbursement
- Better cash flow
- Improved margins
- Increased patient satisfaction
- Cost savings
- Reduced risk of bad debt
- Improved productivity
