HIMSS June 5, 2019
The Problem
As leaders and stakeholders in the United States’ healthcare system, most of us agree that managing the system has become cumbersome, frustrating and wasteful.
Complex rules and regulations, multiple parties coordinating care, antiquated systems, manual processes and more have contributed to as much as $400 billion per year in unnecessary spending and write-offs, according to a recent McKinsey publication.
Much of the hospital system administration is centered on revenue cycle management – which encompasses all the back-office processes that begin when a patient seeks medical care and conclude when payments for that care are settled. Revenue cycle management is ground zero in the effort to streamline healthcare administration, and its transformation enables better patient experiences in addition to...
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