In the face of financial challenges, staffing shortages, and disruptive competitors, hospital groups, integrated delivery networks (IDNs), and health systems are navigating a transformative landscape. This white paper explores the pivotal role of ancillary services in addressing these challenges and outlines a strategic revenue approach to change ancillary services from a cost center to a profit center.

Read the paper for critical insights on:

• Consumer Demand and Innovation: Ancillary services are gaining significance as consumers seek cost-effective and convenient healthcare options. Technological advancements allow more outpatient procedures, aligning with consumer preferences.
• Strategic Growth Opportunities: Hospitals can leverage the growth in outpatient services to attract new patients, support local communities, promote cost-effective care, and prevent readmissions.
• RCM Transformation: Shifting from perceiving ancillary services as cost centers to profit centers is crucial. Purpose-built RCM solutions with AI capabilities play a pivotal role in optimizing revenue collection.
• Benefits of Purpose-Built RCM Solutions: Purpose-built RCM solutions offer automated billing, secure interoperation, communication portals, patient financial clearance, and efficient denials and appeals management, resulting in improved cash collection and efficiency gains.
• Outsourcing for Flexibility: Outsourcing RCM tasks provides flexibility and scalability, particularly for organizations facing staffing constraints, suboptimal billing systems, or rapid expansion.