Yahoo Finance April 6, 2023
CWH Advisors PatientPay™ research reveals staffing shortages and shrinking margins have providers considering third-party financial partners, prioritizing patient payment experience
CONCORD, Mass., April 6, 2023 /PRNewswire/ — A recent study published by management consulting firm CWH Advisors and sponsored by CareCredit, a Synchrony (NYSE:SYF) solution, found healthcare providers are expressing significant interest in outsourcing their revenue cycle management (RCM) processes. According to the study, 61% of providers expect to make greater use of external parties for offering patient financing options in the wake of lingering disruptions following the pandemic.
The study, entitled PatientPay 2022, found 63% of respondents indicated they were experiencing staffing shortages in their revenue cycle departments, which can lead to less predictability in revenue streams. As a...
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