Advanced Revenue Cycle Analytics: An Overview

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Healthcare executives have varying concerns and responsibilities that they have to balance, both on a day-to-day level and on the larger scale level. Things are constantly changing in the healthcare field. The Healthcare Executive Group identified some of the biggest challenges and opportunities for 2019, and these are 5 of the biggest threats and challenges that healthcare executives are facing right now.

Cybersecurity

As modernization of healthcare and digital connectedness increases, there are more risks. Patient information needs to be protected, but this is becoming more of a challenge. With more tablets and devices, cloud-based applications, and phishing attacks, the need is greater than ever for patient information protection, and healthcare leaders need to be vigilant.

Market disruption

Big technology companies are disrupting the healthcare scene. Companies such as Apple, Amazon, and Google are breaking in and changing the game. Healthcare executives need to be aware of the developments these companies are making, and how it may drive consumer demands.

Opioid crisis management

130 people in the U.S. die every single day from overdosing on opioids. This is a national health crisis. This is of particular concern because many of these opioid drugs are prescription pain medications. 21-29% of patients who are prescribed opioids for chronic pain misuse them. Healthcare executives are working to figure out ways to identify and treat individuals who are struggling with addiction to opioids.

Streamlining operations

Reimbursements are not increasing, and healthcare executives have to increase the productivity of their operations. The best way to do that is to use technology that will automate the process. Revenue cycle processes in particular can easily be automated for accuracy and time efficiency. If you are looking for a software vendor who can partner with you to provide better revenue cycle outcomes, look no further. Our dedicated staff members are available for a free quick chat about our how our solutions might be the right fit for your practice.

Value-based payments

Payers are more skeptical today than they used to be. Many of our clients have seen denials increase with different providers as they transition from a fee-for-service model to a value-based model. Healthcare executives are concerned with meeting payer expectations, especially since they vary between different insurance companies.

With so many concerns on your plate, don’t let your revenue cycle be one of them. Get your free revenue cycle analysis to find out how we can help.