Becker's Healthcare August 10, 2022
Uncompensated care, payer denials, and underpayments are costing health systems billions of dollars in revenue leakage each year.
To address these revenue problems, many health systems have turned to bolt-on revenue cycle management (RCM) solutions — often from multiple vendors — to try to improve their revenue management. But these multiple add-on technologies often exacerbate a health system’s financial challenges by contributing to recurring denials, underpayments and high vendor management costs.
In a July Becker’s Hospital Review webinar sponsored by FinThrive, Jonathan Wiik, vice president of healthcare insights at FinThrive, discussed the current state of revenue management, shortfalls of traditional RCM approaches, emerging trends, end-to-end revenue management success stories and the future of the healthcare economy.
Four key takeaways were:
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