Twenty-two percent of revenue cycle leaders who manage their inpatient RCM outsource some of their outpatient or ancillary RCM services, according to a study conducted by the Healthcare Financial Management Association.
The Healthcare Financial Management Association conducted the study on behalf of healthcare information technology company Xifin, according to a June 29 Xifin news release. The report contains 157 completed responses to a 21-question online survey fielded in 2021, according to the report.
"Our research with Xifin gives credence to the notion that healthcare finance professionals will benefit by staying up-to-date about ways to optimize the growing area of outpatient RCM and gives RCM executives insight into new avenues for optimization," Healthcare Financial Management Association Head of Custom Research Bill Voegeli said in the news release.
Four things to know:
1. An additional 12 percent of respondents want to outsource outpatient services in the future.
2. The three business drivers guiding outpatient RCM approach are patient experience, process optimization and revenue generation.
3. The most challenging aspects of RCM not currently addressed by people, processes, technology or services are denials and appeals management, prior authorization, and payer relations.
4. Organizations that outsource RCM are generally very satisfied with the outcomes.