In the age of tightening payment, hospital and health system revenue cycles are facing unprecedented pressure to enhance their yield while reducing costs and maintaining high levels of care quality and patient satisfaction. Improving performance in several areas of opportunity can, on average, realize a one to four percent increase in net revenue.
According to this HFM Blog post from Guidehouse’s Kent Ritter, some of these opportunities include:
Coordinating Internally to Maximize Yield/Cash Collected
Engaging Patients Prior to Service
Enhancing Charge Capture and Revenue Reconciliation
Click on the following link for additional insights on the top opportunities for health systems to enhance revenue cycle management.