[Whitepaper] Optimizing Revenue Cycle Management: Capitalize on Collection Opportunities
Health systems exist to provide the best possible outcomes among their patients. But at the heart of what allows them to provide the best quality care are the strong financial outcomes for the organization resulting from a well-managed revenue cycle. We’ll follow that revenue cycle journey that starts from the moment a patient registers for care through the final collection — encompassing the importance of getting final payments from payers and patients, including likely having to write off a reasonable amount of bad debt in addition to gathering of delinquent payments — focused on how best practices and technology can optimize the process in a patient-centered way.
Topics for discussion may include:
- Building a strategy for measuring collection goals, workflow benchmarks and indicating key milestones.
- Using data to identify patterns and problems in documentation to ensure proper payment of all claims.
- The impact of value-based reimbursement and healthcare consumerism on how care is paid for and delivered.
- The integration key technologies such as real time transparency tools to communicate bill obligations and convenient payment collection options, avoiding disparate systems that cause strain on collection strategies.
- Ensuring effective customer service training for following all pertinent policy and regulation while also focusing on treating all patients with dignity and respect.