Most narratives about the current healthcare landscape are distressing. Costs are rapidly rising, and reimbursement rates are shrinking. Lawmakers are proposing significant cuts to Medicare. Median supply costs per full-time employee for physician-owned, multispecialty groups increased by 82%1 between 2013-2022. High turnover rates are straining resources at every point in the healthcare continuum.
While there is no denying these challenges, the future is promising. In 2023, more than 67%1 of medical groups showed signs of improved operational efficiency, exceeding, or meeting their productivity goals for the year. The U.S. healthcare system is also at the forefront of technological advancements, incorporating novel solutions to improve patient care and treatment outcomes.
Some of these technologies are specifically designed to improve and support the revenue cycle. Best-in-class solutions are enabling providers to capture every available dollar from patient encounters, helping strained healthcare organizations continue to serve their communities with quality care.
How big of an impact on your organization would shrinking the number of claims that are written off or sent to collections and collecting all available revenue make? Game-changing revenue cycle management (RCM) technologies can help billing professionals do just that.
Tools that automatically find, correct, and verify patient and payer information in real time help billers do more with existing resources and free up time for higher-value responsibilities. Industry-leading solution suites include powerful tools that can optimize receivables at any stage of the billing process, ensuring no payments are left on the table and reducing administrative burden.
12024 MGMA Provider Compensation and Production Report, https://www.mgma.com/getkaiasset/252744ee-c63b-4a96-9211-8a5d6b908b39/MGMA-2024-Provider-Compensation-Data-Report.pdf, Accessed 19 February 2025.