Revenue Cycle Management Companies Advise a Data-Centric Approach to Increasing Collection

Improving operational efficiency can definitely help reduce a hospital's total costs. But, just as importantly, if not more, it can noticeably improve the quality of care that patients receive, thereby minimizing their need to keep returning to the hospital for more treatments.

To explain how this is possible, revenue cycle management companies turn to some of the most recent studies conducted in several health clinics across America. Mostly, these studies focus on the importance of accessing data in a timely manner. Read more from this blog: http://bit.ly/2wO6Miv

Here’s Something That Revenue Cycle Management Companies Can Look Forward to: Good CAGR Rate

The revenue cycle management industry has a lot to look forward to. Recent data reveals that the market is set to experience significant growth by 2021. This is expected to benefit both the services and software segment.

Impressive CAGR Growth Foreseen in the Future

According to a recent study by Research N Reports, the global revenue cycle management market is expected to grow at a compound annual growth rate or CAGR of +12 percent. There is said to be a wide range of factors driving this projected growth. Among these are regulatory compliance, which encourage the use of various revenue cycle management solutions, and government support.

Meanwhile, process improvements implemented by health organizations, particularly by using revenue cycle management systems, are considered as a significant growth factor as well. Other contributing factors include the subsequent growth seen in insurance coverage as well as the increase in the number of patients. Read more from this blog: http://bit.ly/2vail47

Revenue Cycle Management Companies Bracing for Significant Market Growth

The future of the healthcare revenue cycle management (HRCM) industry is bright. According to reports, the market is expected to grow significantly and hit USD 100 billion by 2024. This is thanks to the increasing use by private clinics, hospitals, diagnostics and ambulatory care centers. The development of value-based healthcare services and RCM solutions will also drive the growth, as well as increased work efficiency and quality of work life among healthcare professionals as a result of an improved level of automation.

Since HRCM is considered a vital part of the healthcare industry, this growth will benefit healthcare facilities, personnel and patients in a lot of ways. Billing processes will be made easier, thus increasing the quality of patient services and curbing down hospital expenses.

Technology and end-users are also integral in this predicted growth. Healthcare facilities are utilizing HRCM solutions to save time and money while physicians can do their jobs faster and more efficiently. Such integrated solutions prevent errors and make medical coding easier. Read more from this blog. http://bit.ly/2uYuNlz

The Digital Environment Revenue Cycle Management Companies Are Building

Major changes in revenue cycle management (RCM) technology are in store for health providers, including the small physician practice market. Currently, small medical practices are having a hard time handling the fast growth of patient payments, account management inefficiencies, and regulatory environment changes. These difficulties affect their collection of revenues, which can eventually derail the quality of services patients get when left ignored.

However, the use of electronic health records (EHR) is starting to change the landscape and improve the way healthcare organizations gather, analyze and report data. Experts believe that advanced RCM systems will keep on expanding as RCM providers work to incorporate new tools with unified platforms to enhance patient engagement, population health management and analytics. In fact, 97% of hospitals and nearly three quarters of providers are utilizing certified EHR technology.

EHR implementation poses challenges, as well, since the shift from paper to electronic records would demand a lot of time, energy and capital of a healthcare organization. These changes also call for additional training for staff involved in RCM and familiarize themselves with the ins and outs of the technology.

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In an Era of Healthcare Consumerism, Revenue Cycle Management Companies Help Hospitals Stay Afloat

For the foreseeable future, the Affordable Care Act or ACA is here to stay. With its continued implementation, the law continues to change the healthcare landscape as Americans know it.

More specifically, the landmark law has spurred a change in the way patients look at—and acquire—healthcare services. According to a 2016 report by InstaMed, healthcare providers saw a 74% increase in patient financial responsibility.

Data shows that during the 2016 open enrollment period, 90% of the 12.7 million people who got coverage from the health exchanges got a high-deductible plan. Compared to 2006 figures, this represents a 225% increase in out-of-pocket expenditures during hospital trips.

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Revenue Cycle Management Companies Discuss the Likely Impact of the Proposed ACA Repeal

Many Americans, healthcare facilities and revenue cycle management experts are preparing for the possible effects of the proposed changes in the country’s healthcare policy. In recent years, the Affordable Care Act (ACA) have expanded its health coverage to at least 20 million people. It also offers insurance subsidies and other provisions, as well as, takes out insurance lifetime caps and includes pre-existing conditions. By making it easier for Americans to get insured, the ACA provides easier access to medical care, regardless of their status.

Under the new administration, however, there’s a possibility that the ACA could be repealed and replaced by new policies. These plans are keeping healthcare facilities on their toes. With the impending repeal expected to affect millions of Americans relying on healthcare insurance, these changes will have a direct effect on healthcare revenues as well. Read more from this blog. http://bit.ly/2mra5WM

Obamacare and Underpayments: Turning to Solutions Other than Revenue Cycle Management Companies

Today, Republicans are seeking to repeal – and possibly, replace – Obamacare. This places a great deal of uncertainty on the future of the US healthcare system and more importantly, the future of those who cannot afford health care without financial assistance. As a healthcare facility, these recent events may cause you a lot of anxiety since you want to be able to see and treat as many patients as possible without having your level of underpayments go up.

Impending Obamacare Repeal and Uncertainty

Recently, Republicans have come one step closer to dismantling Obamacare from America’s healthcare system. Currently, Obamacare provides for insurance coverage for children through their parents until they reach the age of 26. At the same time, it also grants a number of premium subsidies for both middle income and low income families. As of the moment, as much as 11.5 million Americans have signed up for Obamacare while millions more have also received medical coverage due to an Obamacare authorized Medicaid expansion. Read more from this blog: http://bit.ly/2k7r8wO

What is Revenue Cycle Management Amid the Growing Numbers of ACOs?

Being in the healthcare industry is both a civic duty and a business. On one hand, hospitals and similar facilities are entrusted with caring for the population’s health; on the other hand, they need to turn a profit, in order to continue offering their services. Given the high cost of medical care, however, hospitals often succeed in providing the former but struggle with the latter.


In recent years, eligibility services have helped hospitals avoid potential bad debt. Some companies assist patients in enrolling for government programs, such as Medicare, so they can get subsidized healthcare and minimize their out-of-pocket costs—the greatest source of potential medical debt. Read more from this blog: http://bit.ly/2iqFmJZ

Supplementing Revenue Cycle Management Companies with Helpful Tools

When it comes to delivering quality healthcare, it’s not just about being able to provide the necessary equipment and service to treat the patient. Healthcare is a comprehensive, holistic experience that spans from the moment the patient arrives in the facility until they are checked out completely.


In all of this, it’s fairly easy to understand how the staff can be inundated with administrative tasks on top of their medical duties. What is revenue cycle management further contributing to this status quo is a lot more complication that can very well affect the operations of the facility as a whole. This is why alternative options exist, such as, supporting agencies that can provide assistance to the facility for this particular task.

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Making Sense of RCM

Many hospitals in the entire country tend to get stumped over accounting for their operations and the bottom line. In some respects, part of making situations better requires taking stock of processes such as revenue cycle management, or RCM.

What is revenue cycle management all about? Essentially, it’s the process by which hospitals ensure that they receive appropriate payments in a timely manner. The revenue cycle starts from data collection, i.e. when the patient sets an appointment, and ends when the patient’s balance zeroes out. Throughout the process, there is a need to balance patient satisfaction and the institution’s revenue and sustainability.

Qualifying for a Social Security Disability Benefits

The Social Security Act defines disability as a chronic condition that prevents a person from engaging in any significant activity because of physical or mental impairment. The condition may last or is expected to last for a long time, or is expected to result in death. Because of these inopportune situations, the US government is stepping up to help those people in need.

Those who have worked previously before impairment can qualify for Social Security Disability Insurance (SSDI). Monthly benefits, such as cash compensation and Medicare, depend on the person’s earnings. Some family members of qualifying beneficiaries can also receive benefits from the insurance.

The Ins and Outs of Medicaid Eligibility

In a country with the world’s best healthcare system, being strapped for cash should be no excuse to seek assistance with one’s health issues. For those who find the cost of healthcare too much to bear, Medicaid, which guarantees free or low-cost care, may be one viable solution to the problem.

In order to qualify for Medicaid, however, applicants must meet certain income and family size restrictions. Medicaid programs in different states all follow a set of federal guidelines when implementing these restrictions; however, these can vary somewhat from state to state. Additionally, recent expansions to Medicaid have changed the eligibility guidelines, though some of these developments have yet to be applied in certain states.

Due to these variations in implementation, interested applicants should check the