Where to Start: Why Revenue Cycle Is Ready for New Relationships
At the heart of any healthcare organization’s plan to rein in cost, accelerate revenue and regain a financial foothold is its revenue cycle management. Forward-thinking financial leaders are making moves now to prepare for continual economic uncertainty. That includes being ready to respond to ongoing transformational trends that can propel their businesses into the future of healthcare.
Among the biggest trends affecting how work gets done within the revenue cycle are automation, a shift to remote operations, and outsourcing partnerships. The emergence of the trends together makes sense as healthcare faces both the demand for transformation and ongoing crisis management at the same time.
It also makes the revenue cycle an ideal springboard for new ways of operating that bring together talent and expertise from inside and outside the healthcare organization. Healthcare financial leaders need and want more from their systems, technology and talent, but often lack the time, resources or in-house expertise to optimize every part of their business. Moreover, aligning on-the-ground operations to pivotal trends such as automation and remote workforces while realizing efficiencies and financial return takes a significant investment in infrastructure, including technology and talent.