Many hospitals and health systems face disruption to their revenue cycle when shifting to a new patient accounting system.
Melissa Huston, director of client services with RCM services provider MediRevv: To stay competitive, drive efficiency and improve communication across the organization. Many healthcare organizations are converting to a more technology-advanced system, especially if their current one is out of date or cumbersome. The main goal is to realize cost savings and improve cost collections, but that awkward transition period can cause headaches and — if not properly planned — a strain on the revenue cycle.
Gather the right stakeholders from across departments to manage the change, and protect yourself by accelerating cash. Set your sights on creating effective collection and resolution strategies specific to the legacy accounts receivable system in place. Make use of the opportunity to allocate resources to properly focus on the implementation, training and utilization of the new patient accounting system.
To learn more about financial pains of patient accounting systems, access this story from Becker's Hospital Review.
If you would like to share your RCM best practices, please email Kelly Gooch at kgooch@beckershealthcare.com to be featured in the "RCM tip of the day" series.
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