Becker’s Hospital CFO published their top things that you should know about revenue cycle management (RCM). I simplified the list and picked out my top 5 that you need to stay abreast on in the healthcare RCM space.
Almost 50 percent of hospital CFOs have acknowledged that outsourcing has become a more prominent option.
Regulatory Developments in the Recovery Audit Contractor (RAC) program
The RAC plans to correct past Medicare payments. This will be done by locating and collecting underpayments and overpayments.
The market continues to bloom in the RCM space and that trend is expected to continue well over the next two years.
Transparency and price has been a hot topic over the last few years. Supporters have been pushing for better healthcare price transparency, as well as increasing the patient experience.
Patient debt is the most common overdue bill for consumers. According to Kaiser Foundation, 20 percent of patients that are insured find healthcare expenses difficult to afford.