Answers for a Healthier World

Within the healthcare industry, it can be easy to get lost in the numbers. Sources such as Healthcare Finance even suggest that hospitals looking to gain control over finances and protect their revenue streams should perform tasks such as verifying compliance of financial connectivity software. Although a myriad of activities exist that hospitals can use to potentially secure their revenue stream, in a larger sense, protecting revenue streams relies mostly on a hospital’s ability to achieve Revenue Cycle Readiness.

Read more

It’s common knowledge that U.S. healthcare spending is astronomical. According to the Centers for Medicare and Medicaid Services (CMS), the average U.S. healthcare organization spend in 2015 increased 5.8 percent to reach $3.2 trillion. And that number has only grown. Health spending is projected to grow 5.4 percent in 2017 related to faster growth in Medicare and private health insurance spending. Health expenditures are also projected to grow at an average rate of 5.9 percent for 2018-19, the fastest of the sub-periods examined, as projected spending growth in Medicare and Medicaid accelerates.

Read more

Understanding and optimizing the revenue cycle is not easy. There are so many activities and steps pertaining to all administrative and clinical functions within healthcare, that the ability to capture, manage, and collect patient service revenue can seem daunting. Gaining an effective capability to do so requires that healthcare providers achieve revenue cycle readiness by examining and mapping each step from patient admittance to the release of their final bill. Each step in between represents a piece that leads to a complete revenue cycle. Successful and profitable healthcare institutions often have a firm grasp on every individual step, including visibility into the revenue cycle as a whole.

Read more