Why People Are Still Important to Automated RCM

Posted in Revenue Cycle Management (RCM)

The healthcare industry is experiencing a massive cultural shift. Organizations across the globe are transitioning away from outdated legacy systems and are upgrading to cutting-edge automated revenue cycle management (RCM) solutions. These technologies promise to improve the patient care experience, increase the efficiency of key billing processes, and streamline the entire revenue cycle. Despite the …

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How Increasing Patient Volumes and Expanded Outsourcing Services Are Fueling RCM Market Growth

Posted in Revenue Cycle Management (RCM)

Over the last few years, the global revenue cycle management market has grown substantially, creating new opportunities at every turn. Revenue cycle management (RCM) encompasses the various components of the financial process for patients receiving medical care. RCM technology tracks every aspect of the patient care episode, from the moment they check in to when …

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Revenue Cycle Management Measures to Increase Productivity

Posted in GeBBS Healthcare Solutions, Inc., Revenue Cycle Management (RCM)

Due to the complexity of the modern medical system, quality revenue cycle management (RCM) technologies are essential to the financial success of healthcare organizations. While these RCM solutions are quickly becoming the norm, many providers are still not fully measuring important aspects of the revenue cycle management process. Instead, they rely on generic quota-based metrics …

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Rising Hospital Claims Denial Rates and the Case for Better Claims Management

Posted in GeBBS Healthcare Solutions, Inc., Revenue Cycle Management (RCM)

Processing medical claims can be a daunting task. Still, it is an essential part of the healthcare revenue management cycle. While most claims are accepted and processed without exception, denials occur, and they are rising.  Claims denials have various causes but once received, if mishandled, they could spell disaster for providers and healthcare organizations. Thus, …

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Mitigating the Fixed Cost Dilemma in RCM Through Technology and Outsourcing

Posted in GeBBS Healthcare Solutions, Inc., Revenue Cycle Management (RCM)

So much of revenue cycle management optimization is about reducing errors and streamlining processes to increase profits and track a more accurate projection of cash flow for a hospital system. But with costs and competition rising, there are other factors for executives to consider for a more complete RCM approach. Among the most compelling and …

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Outsourced RCM: Offering Improved Profitability and Expert Efficiency

Posted in GeBBS Healthcare Solutions, Inc., Revenue Cycle Management (RCM)

Analysts estimate that hospitals and health systems in the United States could collectively lose $53 billion in revenue this year.  And that’s an optimistic assessment. Even before the COVID pandemic, hospitals in the U.S. were experiencing downward revenue pressure from both government and commercial payers. Strong financial performance is essential more than ever for healthcare …

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The Precise Role of Optimized Billing in a Complete RCM Process

Posted in GeBBS Healthcare Solutions, Inc., Revenue Cycle Management (RCM)

Contrary to many opinions, revenue cycle management (RCM) is not solely a function of billing. Furthermore, the two terms, RCM and billing, are not interchangeable. The focus on revenue here devalues the fact that it is a cycle with multiple contributing elements. That said, billing is certainly a core function that could use some help …

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Powering the Patient Experience Through Front-End RCM

Posted in GeBBS Healthcare Solutions, Inc., Revenue Cycle Management (RCM)

When reflecting on revenue cycle management optimization across health systems, much of the conversation revolves around internal processes and staff. Often overlooked is the critical role that patients play in revenue generation and claims processing. The path to successful claims management starts with the information collected during patient intake. If that data is inaccurate or …

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The Importance of Automated RCM Solutions for Health Systems

Posted in GeBBS Healthcare Solutions, Inc., Revenue Cycle Management (RCM)

Hospitals and other players in the health care system don’t need to be told twice about the impact of the coronavirus on operations and practice management. What many administration executives may have missed, however, is just how quickly facilities and systems transitioned to new technologies and automation to soften the damaging operational impact of the …

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Can Outsourcing Save Struggling Hospitals?

Posted in Extended Business Office Solutions (EBO), Health Information Management (HIM), Revenue Cycle Management (RCM)

Anyone working in healthcare finance knows all too well the struggles US hospitals have been facing for years, only recently intensified by the COVID-19 pandemic. In fact, a recent report issued by Kaufman Hall indicates that at least 39% of hospitals are likely to experience negative operating margins in 2021 – a number that could …

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