Aug 8, 2018, 18:13 PM
There have been a number of events in recent years that have put increased pressure on revenue cycle management in the healthcare industry—not the least of which was the recent transition to ICD-10. Most healthcare organizations are operating on such thin margins that any bump in the road could easily be the difference in a profit or loss for the year.
Over the past 10 years, government mandates have drastically shifted the landscape of healthcare. One of the most impacted areas is revenue cycle management. Healthcare executives have been shifting their priorities to future revenue growth and revenue cycle management (RCM).
In addition to the recent transition to ICD-10, this article describes the other contributing factors of why revenue cycle management is suddenly so important. Some of those factors include:
- The Uncertainty Surrounding the Affordable Care Act
- High Deductible Health Plans and Health Savings Accounts
- Lack of Automation and Integration
- And more...