Revenue Cycle Management: Providers Need to Prepare for the Changes to Come
Posted on Monday, November 14, 2016 3:10 PM
With the constant changes that the healthcare industry faces, providers need to prepare for the following changes to come: the shift to value based care, increasing regulatory demands and increasing percentage of commercial and managed care penetration.
With these challenges, providers will need to reexamine their entire Revenue Cycle Management (RCM) operations, with a strong focus on efficient and effective processes throughout the entire revenue cycle.
Home health and hospice providers must take a critical examination of the revenue cycle from intake to denial and appeal in order to restructure work flow and KPIs. What worked 5 to 10 years ago is insufficient to meet the demands of the changing environment. Your organization must have the right people with the right skill sets, providing training and education to meet new demands. Optimal use of existing and new technology will be key to optimizing cash flow and revenue.
Corridor’s Healthcare Revenue Management Services bring over 20 years of best practice, scalable resources, and expertise to help you claim and receive the revenue you’ve earned. Contact Corridor to learn more.
Written by Robbin Boyatt, MPH, Corridor's Vice President of Revenue Management Services.
Corridor is a trusted home health and hospice consulting partner to agencies both large and small. We provide the most up-to-date comprehensive homecare industry educational resources and consulting available.
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