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Next-Gen RCM Capabilities that Improve Profitability

Next-Gen RCM Capabilities that Improve Profitability

How can the right revenue cycle management technology create a more profitable laboratory? It starts with the 4 I’s. See if your organization’s revenue cycle management (RCM) system is up to the challenge of an ever-changing healthcare environment, including changing reimbursement and coding models.

The Four I’s of Modern, Effective RCM Solutions:

  1. Interoperable.
    Is your RCM system equipped to easily exchange information with other systems?
    A truly interoperable RCM system is one that has been engineered to seamlessly interact with other IT systems—from physician portals to clinical data repositories, to patient billing centers—to make the best use out of all of the available information needed for reimbursement.
  2. Informative.
    Can your RCM system effectively communicate with other systems?
    Beyond connecting to other IT systems, an effective RCM system must be able to effectively community with other systems too, by sharing and contributing digital information to ensure data is relevant and timely.
  3. Intelligent.
    Does your RCM system automate workflows to streamline processes?
    An intelligent RCM system pulls from available data sources and uses automated rules to make actionable decisions. It facilitates important tasks that positively affect an organization’s profitability, such as filing clean, error-free claims.
  4. Instantaneous.
    Can your RCM system access and deliver real-time data?
    An effective RCM system will automatically push updates on changing regulations or reimbursement codes as new information becomes available.
Beyond required fields, XIFIN RPM can edit for content and format on the front end, helping to ensure claims are submitted correctly the first time around.

Published by XIFIN
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