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Is Your Revenue Cycle Ready for the New Year?

Break out the champagne and party hats, it’s almost the new year! This means setting new resolutions for the year, but also keeping an eye on upcoming trends and emerging technologies, as they’re helpful to organizations updating their revenue cycle strategies heading into next year.

So, while you’re ringing in the new year and pondering what is to come, here are three healthcare trends to take you successfully into the year while keeping your revenue cycle in tip-top shape.

  1. Think total revenue cycle integration to maximize payment performance. Why? Tightly coupled systems cut short your time to value and are the best bet to simplify workflow for your revenue cycle teams.  Another point about integration: it’s all about the data. Since the revenue cycle increasingly relies on data analytics, the best way to glean maximum insight from your data is with tightly integrated systems that feed into a strong analytics solution.
  2. Cloud technology. For its flexible systems and ability to let you scale up or down and more easily upgrade systems, cloud technology is a winner. For that very reason, Waystar’s solutions are cloud-based — and designed to help you increase revenue; accelerate cash flow and reduce the cost and effort of managing insurance claims, patient billing and payments, and reporting and analysis.
  3. Patient satisfaction. In the era of healthcare consumerism, busy practices, and healthcare organizations will need to focus on patient satisfaction to stay competitive. That’s because more patients are shopping around for services, price comparing, and seeking the digital conveniences they experience in other industries. Discover how high-volume, multi-location Piedmont implemented a no-touch payment process to improve satisfaction and revenue cycle results.
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