In healthcare today, the financial landscape is growing in complexity. Fee-for-value reimbursements, bundled payments and high-deductible plans are changing the healthcare revenue lifecycle. Adding to this complexity are tighter regulations, audits and coding changes like ICD-10. It’s no wonder that healthcare CEOs say that financial challenges are their top concern.
Further complicating matters is the fact that revenue is managed by multiple departments, all of which operate in silos. From patient access to the business office and everything in between, revenue is touched by multiple systems that typically don’t talk to each other. Gaining insight into revenue across the enterprise is no easy task.
With Revenue Lifecycle Management, you can experience a complete, unified view of your organization’s revenue. It’s a holistic way to analyze your financial health, enabling you to see and understand your data in context, create a plan to reduce revenue leakage and ensure financial viability today and into the future.
By leveraging Revenue Lifecycle Management, your organization can experience the following key benefits:
- Gain insight into the entire revenue cycle
- Integrate data silos
- Connect clinical activity with revenue performance
- Identify missed revenue and coding opportunities
- Pinpoint the root causes of denials and bad debt
- Reduce collection costs
- Prepare for ICD-10 revenue impacts
For further information on Revenue Lifecycle Management, check out our video, complete brochure and best practices guide here.
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