According to the HIMSS Revenue Cycle Improvement Task Force, Revenue Cycle Management (RCM), as it exists today, is ill-equipped to handle the market forces impacting healthcare. Rapid growth in consumer payments, reduced payer reimbursement rates, an ever changing regulatory environment, and shifting consumer expectations have all contributed to the challenges facing RCM.
While this future business model is being worked out, healthcare is adopting internal changes through a wide variety of technology options which has forced many Access and Revenue Cycle leaders into the role of project manager and QA analyst.
These leaders are subjected to having to manage implementation and maintenance, mentor staff who toggle through multiple applications collecting as much data and money as possible from the patients all while “focused” on ensuring the patient has a positive experience.
The whitepaper – Rethinking Revenue Cycle Management – offers a brief overview of the RCM process as it exists today and the challenges it is facing from changing fiscal demands within the industry, aging technology, and, equally important, consumer expectations.