Three Strategies for Getting Your Revenue Cycle Management Back on Track
The post-pandemic period creates the perfect time for healthcare organizations to re-imagine how they want their RCM departments to operate. Hospitals, physician practices, and other healthcare organizations have fallen far behind in many RCM activities and need to catch up. Yet because of previous reductions, many have more flexibility in how they want to approach it.
The first thing healthcare organizations should do is gain a better understanding of what it costs them to process a claim from primary billing through final adjudication and then zero balance. They can then look at what it would take to perform certain tasks internally versus hiring a partner to take them on.
Much of the RCM work, even in otherwise technologically advanced healthcare organizations, has traditionally been performed by humans. Yet this approach has many limitations. Humans can only process so much work and work for so long.
Did you find this useful?