“In-house billing is cheaper and provides more control. Outsourcing billing and [revenue cycle management] alleviates staff burden and increases collection rate and speed by reducing rejections and denials,” she said.
But if an organization chooses outsourcing, Ms. Marquis recommended it consider cost, services offered, support, patient communication and where the data is hosted.
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.
More articles on healthcare finance:
Oregon tax court can’t invalidate fee assessed on hospital’s net revenue, judge rules
Washington hospitals now must wait longer to send past-due bills to collections
Patients urged to share billing frustrations, organize to shape health policy
Becker’s 3rd Annual Fall Chief Pharmacy Officer Summit is the top tier event that the people leading the future of pharmacy convene. This 3-day event is built specifically for Chief Pharmacy Officers and senior pharmacy leaders. The sessions examine the workforce, financial and clinical priorities shaping pharmacy today. Becker’s is where candid discussions flourish and new ideas thrive. Becker's 3rd Annual Fall Chief Pharmacy Officer Summit
