Friday, March 3, 2017

Analysts Project Bright Future for Hospital Revenue Cycle Management in the Next Decade

If there’s one thing that hospitals can look forward to in terms of the revenue cycle management, it’s that more good things are expected to come out of it this year. A recent study conducted on the matter showed that RCM practices are expected to increase due to a rise in the rate of claim denials as well as the reduction in healthcare reimbursements from both private providers and government.

Other factors that will further highlight the importance of adopting RCM measures include the ever-evolving and complex medical coding for bill reimbursements. It is crucial for healthcare institutions to ensure the validity of their billing, especially with the expected changes to the coverage of the Affordable Care Act. Reducing billing errors can be achieved with an efficient hospital revenue cycle management program.

Technology Forecasts

Helping along the improvement of RCM systems in healthcare institutions are new developments in technology. Artificial Intelligence (AI), for example, is expected to play an even bigger role in the healthcare industry, not only with the medical procedures, but even for the administrative tasks in the hospital. Read more from this blog:

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