An HFMA, Navigant analysis of provider executives on the next generation of revenue cycle management
Hospitals and health systems are struggling to maximize the benefits of innovative technology to better manage uncompensated care and revenue integrity, suggests a HFMA/Navigant survey of 125 provider CFOs and revenue cycle management executives. According to respondents:
Technology budgets are growing, but providers struggle to realize tech impact.
Almost all are concerned about consumer self-pay.
Less than half have established revenue integrity programs, but those that do are seeing benefits.
Budgets are on the upswing, but providers are struggling to leverage the power of technology — and EHRs in particular — to drive process improvement and long-term success.
Although revenue integrity was cited by 22 percent of respondents as the top RCM focus area for the coming year, just 44 percent say their organizations have established revenue integrity programs. Those providers with revenue integrity programs are achieving significant benefits, including increased net collections (68 percent) and charge capture (61 percent), and reduced compliance risks (61 percent).
As new technologies are implemented, it is critical to understand and plan for linkages across clinical and financial activities to optimize workflow and reporting in both environments. By adopting a holistic approach to technology evaluation and design, providers should benefit from automation, scale, and process improvement, thus positively impacting quality and financial outcomes.
Mary Beth Briscoe
UAB Hospital & UAB Medicine Clinical Operations