RCM tip of the day: Work with, monitor your vendors via co-sourcing

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Hospitals and health systems should consider co-sourced revenue cycle management partnerships as an alternative to traditional outsourcing, advised Nancy Lopez, senior business relationship manager at RCM provider BillingParadise.

Under a co-sourcing arrangement, healthcare revenue cycle leaders would work with an outside revenue cycle vendor to improve RCM performance, denials, accounts receivable and other processes.

“This co-sourcing is a better option for the healthcare organization that wants to outsource and [also] closely monitor their outsourced RCM operations by making use of one of their” internal resources, said Ms. Lopez.

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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