The growth of revenue cycle management (RCM) in the healthcare industry is attributed to the increase in government initiatives to boost the adoption of RCM solutions for minimizing revenue loss due to billing errors. As the healthcare industry evolves, so does the revenue cycle process, and as such, healthcare organizations of all sizes, as well as the medical billing companies they partner with, are necessitated to stay abreast of the latest developments and changes emerging in the RCM space to improve the bottom line.
In the wake of the industry-wide shift to a value-based payment system, hospitals and healthcare systems are increasingly prioritizing the patient financial experience through price transparency, strengthening the engagement between patients and providers and enhancing overall collections performance. Healthcare organizations are inclining toward more sophisticated systems and outsourced third-party revenue cycle management services to mitigate problems related to regulatory compliance, lost revenue, collections providers, or poor denials management. The modern-day RCM landscape is replete with innovative technologies automating everything from patient registration to medical billing and claims management. Making optimum use of such cutting-edge technologies, healthcare organizations today are reducing the number of denied or underpaid claims for practices and cutting back on operational expenses through increased efficiency while placing customer service at the forefront of RCM.
In addition, to ensure strong financial health of hospitals, which is largely dependent upon claims processing, a slew of revenue cycle technology platforms are now available that enable hospitals to track claims through their entire life cycle. To help choose the ideal RCM solution provider, the editorial team at healthcare, along with a distinguished panel of CEOs, CIOs, VCs, and industry analysts, has curated a list of the most promising RCM solution providers in the industry.
We present to Healthcare Tech Outlook’s “Top 10 Revenue Cycle Management Solution Providers- 2019”