Setting The Facts Straight: 3 Common Misconceptions When Applying Automation To The Revenue Cycle

After an extremely difficult year – one where health systems now face losses projected to exceed $323 billion due to COVID-19 and as much as $200 billion in administrative waste as a result of revenue cycle inefficiencies – providers, now more than ever, are feeling enormous pressure to reduce costs and effectively manage finances. Many organizations are turning to automation technologies to navigate healthcare’s operational challenges and improve outcomes at a lower cost – however, many may be taking a misguided approach that is preventing them from reaching widespread efficacy and justifying the initial cost of investment.