Today’s diagnostic providers, hospital outpatient departments, and specialty physician groups run on razor-thin margins. This is due to a combination of market pressures from continually declining payor reimbursements, increasing volume, more self-insured patients, and high-deductible insurance plans (the latter two of which come with higher write-off rates). Also at play are trends toward higher rates of payor denials and appeals and increasing documentation or prior authorization requirements. Without upgrading the capabilities of your revenue cycle management system, you may be sacrificing performance in six key business areas.
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Business and Compliance RiskLost Revenue and Profit MarginLack of Visibility into Business and Operational PerformanceLimited Financial IntegrityInsufficient Client and Patient Engagement
Maintenance and Operational Costs