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Revenue Cycle Management

Revenue Cycle Management. Healthcare Industry Seeing an Up-Tick in Outsourcing Partnerships. S T R O N G. Revenue Cycle Management. Hospitals and healthcare organizations are turning more to outsourcing partnerships for revenue cycle management.

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Revenue Cycle Management

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  1. Revenue Cycle Management Healthcare Industry Seeing an Up-Tick in Outsourcing Partnerships

  2. S T R O N G Revenue Cycle Management Hospitals and healthcare organizations are turning more to outsourcing partnerships for revenue cycle management. As healthcare providers realize they lack the required in-house expertise and resources, outsourcing providers have a significant opportunity to build mutually-beneficial relationships. This trend will only grow as healthcare providers are pressured to reduce operating costs and have to deal with lower reimbursement rates. Based on recent reports, it appears everyone wins when hospitals and healthcare providers outsource. The hospitals can streamline costs and boost revenues. With more efficient cost and revenue management, they can focus on providing better care to patients. And, revenue cycle management providers can grow their businesses. S T A B L E S T R A T E G I C

  3. S T R O N G Revenue Cycle Management According to Modern Healthcare’s annual outsourcing survey, the top 20 healthcare outsourcing companies grew their businesses by 13.1% between 2010 and 2011. Collectively, this group of 20 outsourcers served 16,463 total healthcare clients in 2011. This figure represents an increase over the 14,556 reported in 2010. Another interesting note about this study is the size of healthcare organization using outsourcing. In the past, typically smaller hospitals enlisted outsourcing services. Today, however, larger hospitals are realizing they can stay ahead of the curve by shifting some responsibilities, like revenue cycle management, to an outsourcing provider. S T A B L E S T R A T E G I C

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