Without the ability to retain patients and collect strong revenue, hospitals can struggle financially. High levels of patient retention is a direct effect of quality care, in addition to ensuring your patients receive exceptional service and have a good overall experience when paying for that care.
Topics: Healthcare BPO Companies
Healthcare systems themselves are convinced there aren’t any practical solutions when it comes to revenue cycle management. As a medical practice, receiving every dollar that is rightfully yours is critical to your overall success and vitality. Therefore, the common question of whether to outsource patient collections or keep the process in-house is one that weighs heavily on many hospitals and practices, regardless of size.
Topics: Healthcare BPO Companies
It should come as no surprise that the most successful healthcare business process outsourcing companies have a lot in common with each other. They know how to get the job done the right way, the first time, without any surprises. That's why they're so awesome at what they do.
Topics: Healthcare BPO Companies
Financial woes were a common resonating theme throughout the healthcare industry in 2014 and all signs are pointing to a 2015 that follows the same trend. Healthcare organizations are being forced to reestablish budgets and rearrange strategies largely in part to the following:
Topics: Revenue Cycle Management, Healthcare BPO Companies, Revenue Cycle Services
We’ve heard rumors of CFOs losing sleep over ICD-10.
If the rumors are true, you may be reading this with a strong cup of coffee in your hand, even though it’s 3pm in the afternoon. Don’t let the fear of reimbursement reductions (or even a full temporary halt) of your revenue stream keep you up at night. It’s time to start finding any optimism you can muster about ICD-10, starting with the fact that the implementation date has finally been finalized (for the second time). So pour out that lukewarm cup of coffee you’ve been nursing and start addressing how you can provide your staff with the resources needed to cope with the post-ICD10 landscape.
Topics: ICD-10, Healthcare BPO Companies, BPO Companies
Just in case you somehow missed the trend, the healthcare business process outsourcing (BPO) industry is growing at a rapid rate. Black Book Market Research’s annual Satisfaction Survey of all RCM stakeholders uncovered that nearly half (45%) of struggling hospitals in the U.S. have immediate plans to implement a full RCM outsourcing strategy. By 2016, the outsourcing market will reach $9.9 Billion, over a $2 Billion jump from the 2014 numbers.
Topics: BPO, Patient Pay, Outsourcing, Business Process Outsourcing, ICD-10, Healthcare BPO Companies
As a large healthcare organization, your primary responsibility is premier patient care… we get that. And with Medicare reimbursements now tied to patient satisfaction scores (courtesy of none other than the Affordable Care Act), the emphasis on quality of care and patient happiness is more important than ever before.
Topics: BPO, Outsourcing, Business Process Outsourcing, Revenue Cycle Management, Healthcare BPO Companies
As the CFO of a hospital or healthcare organization it’s easy to become overwhelmed by the changing industry landscape and fast-moving regulatory shifts that affect the financial outlook of your company. And for good reason. Your livelihood and the livelihood of those within the organization depend on your expertise and ability to ensure the company is financially sound. Ever wonder whether others in your position feel a similar burden of responsibility or if possibly you’re the only one losing sleep over healthcare financial management? Rest assured that you are not alone experiencing this daily stress. Your perception of the situation might be bleak- but it doesn’t have to.
Topics: BPO, Business Process Outsourcing, Healthcare BPO Companies
