Today’s healthcare landscape of increased regulations and pay-for-performance models, combined with declining reimbursements, has made revenue cycle management (RCM) critical for success. Health costs continue to rise and employee contributions are increasing at a rapid pace.
In fact, employee contributions have outpaced employer contributions by 6% over the last 5 years and deductibles have steadily increased. Providers,
therefore, will need to respond with thoughtful strategies for self-pay receivables management.
Fortunately, there are opportunities for practices to improve their revenue cycle management, including:
– Identify and fix revenue cycle leaks
– Benchmark business achievements
– Better manage daily, weekly, and monthly to-do lists for steady cash flow