White Paper Explains 5 Key Trends Driving CEOs to Next Generation Revenue Cycle Management

“A CEO’s Guide to Next Generation Revenue Cycle Management: What Service Providers Need to Know to Survive the Changing Diagnostic Healthcare Environment” is the title of a newly released white paper aimed at the turbulent and highly competitive diagnostic services marketplace. The white paper, hosted by Robert Michel, Editor-In-Chief of The Dark Report and President of The Dark Intelligence Group, Inc., is the first of its kind to analyze the so-called “perfect storm” of macroeconomic pressure, increased governance, organizational changes, and technological advances that are driving revolutionary changes in the framework of the healthcare system. The paper was co-authored by XiFin Executive Chairman and CEO, Lâle White and David Lorber, Ph.D., Director of Business Development, XiFin, Inc.

Key trends covered in the white paper include:

1. Macroeconomic pressures and changes impacting diagnostic healthcare
2. New technology guidelines and the critical role of data exchange
3. Four key technological aspects vital to optimizing business practices
4. Important steps diagnostic service providers can take to adapt to the changing environment
5. Revenue cycle management technology solutions and platforms, and the central role that data in RCM systems will play in evolving healthcare reform

While stakeholders disagree about the exact value of improper payments and argue the semantics of errors versus waste versus fraud, everyone agrees that the system is losing significant amounts of money. The authors describe in detail how next generation systems will be able to control healthcare costs by reducing administrative overhead and controlling utilization through decision support capabilities, real-time claims adjudication process for diagnostic claims, streamlining the costly billing process for both payor and provider. These systems combine data from pharmacy claims and diagnostics claims with outcomes data and apply high-end analytics to produce predictive models for optimizing utilization, effective treatment and monitoring quality.

The changes to the healthcare system present difficult challenges as well as valuable opportunities. Regardless of how these changes are viewed, their consequences are sure to be both pervasive and lasting. Savvy CEOs and healthcare executives are devoting more attention to the role revenue cycle management systems should play in a modern healthcare system. Extending RCM functionalities outside the billing department putting the right services at the right places at the right times, will allow these system to capture high-quality data, support the changing healthcare landscape and produce significant and measurable financial improvements.

Robert Michel, Editor-In-Chief of The Dark Report declares this new white paper a must read for every manager and executive tasked with submitting clean claims and maximizing the dollars collected from Medicare, Medicaid, and private health plans. The white paper is available for complimentary download at the Dark Daily website.

Click here to access, “A CEO’s Guide to Next Generation Revenue Cycle Management: What Service Providers Need to Know to Survive the Changing Diagnostic Healthcare Environment.”/p>

For additional information, Join XiFin for a free webinar, Next Generation in Revenue Cycle Management, on Wednesday, November 9, 2011, presented by Lale White, CEO of XiFin, and Rob Atlas, President & CEO, Atlas Development Corporation.

Visit www.xifin.com, or follow @XiFin on Twitter.