Monday, April 10, 2017

What is Revenue Cycle Management in the Age of Healthcare Consumerism?

For the longest time, the healthcare industry’s status quo has been more or less intact. Yes, technological advances have been introduced, but the way hospitals conducted business was mostly the same: patients come in, they get treated, then they get billed.

However, public policy driven changes have led to a shift in the way patients receive medical treatment. For one, there are more walk-in clinics and ambulatory care centers that offer many of the services one could find only in a hospital years past.

Moreover, more patients are opting for high deductible plans from the health exchanges, which means that more of their medical costs are being paid out of pocket. Many feel that this is a more cost-effective option, especially those who are relatively healthy and very rarely get sick.

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