How to Boost Ancillary and Outpatient Profit by 15%+ Via Optimized RCM
A CFO's Guide to Boosting Profitability and Leveraging Outpatient, Outreach, and Ancillary Services to Reduce Overall Costs While Improving Quality with Revenue Cycle Automation and Advanced Analytics
For years hospitals and health systems have focused on core inpatient revenue sometimes to the detriment of outpatient services. This trend is shifting as hospital systems and hospital executives are realizing the value and impact of their outreach, outpatient, and ancillary services to both the cost structure and quality performance of their overall organization. Yet these outpatient profit centers often leverage EMR systems and processes optimized only for inpatient services, leading to lost revenue and little to no visibility across outpatient services.
Healthcare Financial Management Association (HFMA) hosted a live webinar for members only titled, “How to Boost Ancillary and Outpatient Profit by 15%+ via Optimized RCM: A CFO's Guide to Boosting Profitability and Leveraging Outpatient, Outreach, and Ancillary Services to Reduce Overall Costs While Improving Quality with Revenue Cycle Automation and Advanced Analytics,” that was followed by a panel discussion, to discuss how centralizing outpatient revenue cycle management and gaining insights through advance analytics benefits hospitals and health systems, improves patient access, and broadens physician referrals.
Health system executives, finance and outpatient department and services leaders will learn:
The benefits of sharing outpatient RCM analytics and KPIs to support organizational system business objectivesThe critical role of outpatient and digital health services to improve patient access and engagementHow centralizing outpatient RCM assists with end to end RCM automation—including prior authorization, denials and appeals management—to boost patient access and increase revenue while lowering costsThe changing role of Revenue Cycle Management leaders and teams with the adoption of automation and AI
Considerations for hospital/health system RCM leaders in determining when to outsource some or all of the process for outpatient services
Head of Custom Research, HFMA
& President of Association Insights