Too often, hospital outreach and outpatient lab leaders have enterprise revenue cycle management (RCM) systems pushed on them in a misguided attempt to save money or increase the ROI of the health system’s hefty EMR or EHR technology investments. However, a purpose-built laboratory RCM more than pays for itself while improving enterprise system ROI by increasing cash collections while reducing labor costs, write-offs, and compliance risk.
Average Improvement in Cash Collection Realized by XIFN hospital Lab Clients
In addition to the monetary benefits, a purpose-built lab RCM will help your lab develop better data quality through bidirectional data exchange, provide patient and client visibility, and better utilize business intelligence. Beyond these benefits, we have identified six main areas where purpose-built lab RCMs provide more value. Take a look at the following questions for each of the six key areas and decide for yourself if your RCM is up to par:
Want more information on how purpose-built lab RCM can help your lab today? Discover the capabilities of XIFIN RPM and contact us today: