From OhioHealth laying off revenue cycle employees, to Memorial Hermann Health System investing in EnableComp, here are eight RCM stories Becker's reported in July:
1. Black Book Research ranked the 10 best RCM platforms for hospital systems.
2. 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.
3. Columbus-based OhioHealth July 7 announced that 70 revenue cycle employees will be laid off Nov. 4 as it outsources those functions to AGS Health. The health system is also eliminating 567 information technology jobs.
4. Houston-based Memorial Hermann Health System is investing in Franklin, Tenn.-based revenue cycle management company EnableComp. Memorial Hermann Health System will participate on EnableComp's strategic advisory board to support growth initiatives, continuous quality improvement, new product development and expansion of capabilities, according to a July 11 EnableComp news release.
5. R1 RCM's Executive Vice President and Chief Commercial Officer Gary Long discussed his takeaways from the company's midyear financial trends report that surveyed 205 CFOs and vice presidents of revenue cycle from large health systems and physician groups.
6. Sacramento, Calif.-based Sutter Health chose R1 RCM July 14 to be its exclusive end-to-end revenue cycle service partner for the next 10 years. As part of the agreement, about 1,150 Sutter revenue cycle employees will be offered comparable positions, pay and benefits with R1 RCM.
7. Columbus, Ohio-based tech startup Olive laid off 450 employees July 19. Olive CEO Sean Lane attributed the layoffs to the company's overly aggressive expansion and said the company will focus on doing one thing incredibly well. "Going forward, that one thing is the critical connection between providers and payers, starting with autonomous revenue cycle for providers and utilization management transformation for payers," he said.
8. Retiring Owensboro Health Chief Medical Information Officer David Danhauer, MD, told Becker's about the changes and challenges he's seen in the revenue cycle.