Enhancing Healthcare Revenue Streams: Key Steps for Your RCM Team to Improve Patient Collections
According to a recent survey from the Healthcare Financial Management Association (HFMA) and Eliciting Insights, hospitals and health systems find...
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Break free from financial inefficiency with a new, innovative approach to RCM. Get insights from your peers and learn about our dynamic technology adoption model.
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To improve patient financial experiences and protect profitability, healthcare financial leaders need a strategy that focuses on end-to-end revenue management.
Today, revenue cycle strategies rely on a combination of core EHR functionality and bolt-on point solutions. However, this approach is beginning to change. In a recent survey of health system CFOs, 28% report they’d be making major investments in revenue cycle technology solutions in just the next 12 months, migrating away from point solutions toward an enterprisewide, end-to-end revenue management platform.
As you consider strategies like these to drive operational efficiencies across your revenue operations, the following emerging trends should be taken into consideration:
An estimated 70% of healthcare organizations leverage multiple third-party solutions for revenue cycle management. This approach is creating data silos, limiting automation programs, eroding workforce efficiencies, and, in some cases, negatively impacting patient satisfaction.
Learn how FinThrive is rethinking revenue management with an end-to-end solution.
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