Are you losing revenue due to the lack of a dedicated RCM process?

Revenue Cycle Management (RCM) services offered through Healthcare Revenue Cycle Outsourcing is an end-to-end procedure that starts with dispatch and continues until the account's life cycle is complete. In a nutshell, it affects all areas of your company's operations. 



Gaps in your process might result in considerable economic losses, and cash delays or disruptions as RCM gets more complicated. While effective billing operations often resolve the most common gaps, such as an incomplete level of service documented at dispatch, a lacking prior authorization, missing documentation, and the failure to account for payor nuances, to mention a few—there are many others that might go undetected and, if left unaddressed, and can lead to significant downstream issues with negative financial consequences.


Is your healthcare business duly equipped with the knowledge and resources necessary to objectively examine your revenue cycle procedures and thoroughly identify potential pitfalls? 


Revenue Cycle Assessment

 

People, Processes, and Tools and Technology should all be evaluated as part of your hospital revenue management process while focusing on answering core questions to find possibilities. The following questions should be used as a starting point for determining whether your current operations will serve your long-term revenue cycle goals or if you'll need to supplement some areas: 


People


  • Do you track your team's quality and productivity and use it to better continuous training?

  • Is your clinical record of adequate quality to ensure appropriate billing?


The Process


  • Are there any flaws or inefficiencies in your RCM process that are causing revenue loss or cash flow delays? 

  • Do you have formal protocols in place to document your workflow? 

  • Do you have change management strategies in place that are effective? 

  • Have you streamlined your RCM workflow to incorporate the most efficient and accurate billing and collection methods possible? 


Tools


  • Are you using the tools offered by Healthcare Revenue Cycle Outsourcing to implement automation successfully? 

  • Do you have a program in place to keep track of and manage your vendor relationships? 

  • Do you have sophisticated reporting to measure key performance indicators (KPIs) and the ability to make quick course corrections as and when required?


Answers to the above queries will put you in a better position to revise your operations and improve performance.


To know more about our Hospital Revenue Management services, get in touch with the experts of Unify Healthcare Services.

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