Co-sourcing - The best revenue cycle solution for hospitals!

Outsourcing Your Hospital RCM's Operations: The revenue cycle is a critical building block on which all transformation efforts rest. The relationship between revenue cycle vendors and hospitals has changed from a mere contractual relationship to a long-term partnership

that will help them transition towards new payment models, experiment with revenue cycle tools and meet compliance demands.

But there is one piece of the puzzle that is forever missing. Transparency. Transparency is the cornerstone of any long term partnership but most healthcare organizations don't have a clear window into their revenue cycle operations.

According to a survey by HIMSS analytics, 69% of healthcare organizations surveyed revealed that they used multiple vendor solutions to manage their revenue cycle.

This laundry list of systems adds to operational costs and makes monitoring the revenue cycle a nightmare.

To effectively contain costs and gain more transparency into operations it is imperative that hospitals partner with revenue cycle vendors who offer an integrated RCM solution that eliminates the need for multiple vendor systems.

A culture of accountability has to be fostered to gain insights into the many moving parts of the revenue cycle structure.

What to look for while partnering with a revenue cycle management vendor?

To avoid the additional costs and headache of working with multiple systems hospitals must work with a revenue cycle vendor who offers a comprehensive set of revenue cycle and change management tools that offer

enhanced reporting capabilities and big-picture insights. To Read More...