A lot of work and time goes into creating a revenue cycle partnership. Regardless of how well implementation and transition went, the yardstick by which everything is measured is the impact to revenue and costs. Consistent reporting by your partner allows CFOs to better manage already narrow margins under value-based reimbursement. And if you can […]
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Transitioning revenue cycle duties to an external partner is about more than processes, technology and service level agreements. At its core, such a change involves moving people who work for your organization to the partner’s physical location. That can cause great angst amongst employees, many of whom will fear losing their jobs. Staff will wonder […]
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After careful scrutiny of productivity, processes and technology costs, many CFOs see the value in partnering with an external company that can take over day-to-day revenue cycle operations. Such a partner is built for revenue cycle management (RCM) and can likely do it better than most hospitals or health systems. For CFOs, it may make […]
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Fee-for-service reimbursement is pretty cut-and-dried for revenue cycle managers. Profits revolve around billing, collecting from insurers and resolving patient claims on an individual basis. That’s not the case under fee-for-value models, where insurers capitate reimbursement for certain populations — a scenario that has revenue cycle management (RCM) leaders scrambling for ways to handle changes in […]
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As value-based reimbursement becomes the norm, consumers demand better-quality care, and federal agencies put new regulations in place, provider executives are feeling the impact. And perhaps no leader feels the effects of these changes more so than the chief financial officer. Significant pressure is on CFOs to find new ways to manage their organizations’ revenue […]
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