The Increasing Need for Specialized RCM in Healthcare Today
April 6, 2023 ⚊ 1 Min read ⚊ Views 51 ⚊ BLOG
In this article, we have highlighted the importance and increased need for specialized revenue cycle management solutions in today’s healthcare industry.
The U.S. healthcare system is currently transitioning from fee-for-service to value-based care. Still, once that process is complete, it will lose money processing medical bills, managing costs, and collecting revenue. The system’s flaws are especially concerning interactions among payers, providers, and patients.
Unsurprisingly, COVID-19 has driven important trends in healthcare revenue cycle management (RCM) as both an agent and an accelerant (RCM). Regulations are changing, patient costs are increasing, automation is becoming more important, and significant cultural shifts have forced workers into their homes.
