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Healthcare Case Management Certification Article on Managing Revenue Cycles

Good article for those interested in the healthcare management fields.

Please also review our Healthcare Case Management Certification

Please also review our Healthcare Case Management Certification

Please also review our Healthcare Case Management Certification

The article, How hospitals can know when to outsource revenue cycle management, by Jeff Lagasse states,

 

Revenue cycle management can be a tricky beast, and whether to seek help from an outside vendor is a question with which many health systems struggle. While it may not be the best fit for every hospital or system, there are certain signs that using a third party may be the way to go — and looking at key performance indicators can often be what tips the scale.

Naturally, there are a lot of benefits to having a tip-top revenue cycle: Increased cash flow, reduced cost-to-collect, greater point-of-service cash collections and fewer denials are but a few. Monitoring key performance indicators, or KPIs, can help a system determine whether investing in a vendor or consultant would provide an adequate return.

Melissa Scott, director of advisory services at the healthcare technology company Change Healthcare, said it may be time to hire some revenue cycle assistance if underperforming KPIs include bad debt, charity, cash-to-net revenue, credit balance AR, billing turnaround and the percentage of claims paid on the first pass.”

To read the entire article, please click here

Please also review our Healthcare Case Management Certification

 

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