How Healthcare Organizations Can Improve Their Insurance Verification Process
In the healthcare industry, accurate insurance verification is crucial for patient care and overall revenue. Despite its importance, many healthcare...
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The Revenue Cycle Management Technology Adoption Model (RCMTAM)
RCMTAM offers healthcare providers a comprehensive tool to evaluate and enhance financial and technological performance through an evidence-based, five-stage maturity 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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