The Next Evolution in RCM
By Tony Reisz, president, Ontario Systems
This year will bring an evolution to revenue-cycle management, bringing the focus to the front end of the revenue cycle to patient-access management. This is one of the last areas where hospitals can save substantial amounts of money.
By moving the revenue cycle to the beginning with patient access, healthcare organizations improve their upfront collections, set patient-payment expectations, manage denials and retrieve self-pay balances before the medical procedures take place. Patient-access management increases the bottom line by reducing the cost of healthcare and increasing the dollars collected. At the same time, it leads to improved levels of patient satisfaction.