Why More Hospitals Seek Revenue Cycle Experts to Protect Finances, Gain Competitive Edge
Revenue cycle management outsourcing is no longer just about cutting costs. For many hospital systems, outsourcing is about remaining competitive.
Payment reform has transformed how healthcare companies do business, and will continue to keep organizations on their toes for many years to come. Hospital systems of all sizes are seeking financial service partnerships to improve processes and drive new revenue efficiency. But financial management partnerships are rarely "one-size-fits-all." Intermountain Healthcare and Sumner Regional Medical Center structured very different financial service partnerships with Cerner to custom fit their organization's unique needs. As hospital leaders look to the future, they must find more efficient account resolution processes, better liquidation rates and more aggressive payer denial mitigation protocol, all at the lowest cost to collect. This whitepaper will discuss:
- Financial and IT benefits of outsourcing revenue cycle operations
- Long-term and short-term outsourcing strategies
- Trends in the financial services market
- Critical traits in a financial service partner
To learn how your organization can benefit from a financial services partnership, how to structure the relationship and what to look for in a potential partner, download the whitepaper here.