Jho Outlaw, Senior Vice President of Revenue Cycle Services at SourceMed, recently published a post about boosting the bottom line with revenue cycle analytics.
Today, healthcare is almost as much about math as it is about medicine. With value-based medicine replacing the traditional fee-for-service system, reimbursement is increasingly tied to quality care and favorable outcomes. But what does that mean for revenue cycle management in outpatient facilities? Payment for service is changing, and keeping close track of what money you collect – and what money you don't – is vital to the continued success of your business.
As expenses rise and reimbursement trends change, it’s more important than ever to not only collect data on payments and processes, but also to analyze and understand it. Why? Because numbers are great to have, but they must be actionable to strengthen your revenue cycle.
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