Analytics can be a key tool for healthcare organizations as they strive to improve revenue cycle performance, according to Destiny Schroeder, information systems director at Atwood, Kan.-based Rawlins County Health Center.
Ms. Schroeder shared the following tip with Becker's Hospital Review.
"Healthcare organizations should constantly measure their performance against their competitors to identify areas for improvement. To do this, organizations need to invest in an analytics platform that translates competitor data into meaningful insights. The value of benchmarking is knowing if you're competitive and what other organizations are doing better than you — if they have better patient outcomes, higher revenue, you name it."
If you would like to share your RCM best practices, please email Kelly Gooch at kgooch@beckershealthcare.com to be featured in the "RCM tip of the day" series.
More articles on healthcare finance:
Insider selling: Interim CEO unloads $35M in Cerner stock
North Philadelphia Health System CEO to resign as part of cost-cutting plan
Los Angeles hospital closes, lays off all 638 employees