Medical Billing & Medical Coding Blog...

Medical Billing » Blog » RCM tip: Consider Revenue Cycle Outsourcing

RCM tip: Consider Revenue Cycle Outsourcing

RCM tip: Consider Revenue Cycle Outsourcing

Outsourcing the revenue cycle management process can prove beneficial for healthcare organizations, according to Joel Gleason, senior vice president and global market head of the provider segment at Cognizant.

Mr. Gleason shared the following tip with Becker’s Hospital Review.

“For hospitals and standalone healthcare providers, it’s all about delivering top-quality care, not necessarily managing the revenue cycle. Collecting payment is crucial to success. But chances are it’s not a core competency.

“In fact, 57 percent of businesses outsource because it allows them to concentrate on what they’re good at, according to Deloitte. Focusing on the core business is the second most popular reason to outsource, just two percentage points behind cost-cutting. Outsourcing revenue cycle management to an organization that understands the process often is an excellent choice.

“While most companies outsource to save money, I’d argue it’s equally important to get outside help because it allows a healthcare organization to focus on what it does best, which is providing patient care.

“By outsourcing the revenue cycle management process, healthcare businesses can reallocate human and financial resources to use them in other parts of the business, and utilize the most up-to-date services.” …

 

Continue reading this article on Becker’s Hospital Review

 

View all Articles by:

Be The First To Comment!

New comments are no longer accepted on this article.

Subscribe To Article Updates By Email

Submit this form to receive an email when a new article is published to our blog.

Your email address:

(Your email will never be given or used for anything but this article subscription) - privacy policy

Google Reader or Homepage Add to My Yahoo! Subscribe with Bloglines Subscribe in NewsGator Online Add to Technorati Favorites!
Blog Sections
Blog Archives
Professional Affiliations
Connect With Us
Tweets by This Author
Feedback
The medical billing blog with billing and coding articles!
Medical Billing & Coding Articles!