RCM tip of the day: When in doubt, get back to the basics

Amid today's changing healthcare environment, it is especially important healthcare organizations keep a close eye on their revenue cycle process, according to Jim Denny, president and CEO of Navicure.

Mr. Denny shared the following tip with Becker's Hospital Review: "Healthcare organizations face daily challenges and ongoing concerns, so every once in a while, even more experienced organizations can forget the basics of their revenue cycle process. It's important to check in weekly, if not daily, to monitor progress and ensure everything is running smoothly and effectively. The first step is determining and tracking key performance indicators, including days in accounts receivable, clean claims rate and charge lag. Though these key performance indicators take planning and commitment to monitor, they are critical to identifying gaps and establishing ongoing RCM success. Many organizations may choose to leverage an advanced analytics tool to further improve their bottom line and drive overall success."

To learn more about improving RCM performance, 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.



More articles on healthcare finance:
5 latest hospital, clinic closures
Hedge fund looks to take control of Adeptus Health as bankruptcy looms
$1M infusion allows California hospital to avoid closure — for now

© Copyright ASC COMMUNICATIONS 2017. Interested in LINKING to or REPRINTING this content? View our policies by clicking here.


Top 40 Articles from the Past 6 Months