Hospitals and health systems have traditionally invested in updated revenue cycle technology or looked to RCM vendors to help optimize revenue streams. However, RCM improvements alone aren't enough to ensure success in today's healthcare market.
The shift to value-based care models, rapid consolidation, payer mix and other trends have led to declining hospital margins and have fueled hyper-competition in the industry. Although hospitals will benefit from investments in RCM technology in this environment, as it will help them capture more reimbursement from patients and payers, hospitals must first have patients before they can collect payment from them.
To help ensure financial success, hospitals need to maximize market share to generate more revenue. This involves retaining current patients as well as acquiring new customers. Many hospitals are investing in a customer relationship management platform to help with this process. In addition to helping maximize market share, hospitals are also using CRM platforms to reduce out-of-network utilization.
Learn more about how hospitals can benefit from a CRM platform during a Sept. 27 webinar sponsored by Evariant. Featured speaker Rob Grant, co-founder and executive vice president of Evariant, will discuss how a CRM platform helps hospitals capitalize on changes in the healthcare market to gain a competitive advantage; acquire, retain and reactivate patients to drive service line growth; align physicians to increase referral volume and in-network activity; and deliver a reportable return on investment.
To register for the webinar, click here.