A Health Practice’s Guide to Smarter RCM Solutions

1

Maximize the value of your practice management system investment

At the top of the list is one of the most important lenses to keep in focus as you look for a strategic partner to support your organization’s revenue cycle goals. You’ve already invested significant money into your practice management (PM) system, and as such don’t want its full capability left unrealized. When you efficiently utilize all workflows and integration points, or augment them with solutions to address a business gap, you drive higher utilization of your PM asset.

2

Government and Commercial payer management in a single platform

If your practice has any Medicare patient population, you know that the toolsets to manage and edit claims – amongst other timely documentation and filing – can be a burdensome process. And perhaps you are solving this this problem with manual effort, or have multiple vendors split amongst your commercial and government payer mix to manage payments. Look for solutions that not only cover both this group, but also ones that have the advanced functionality that solves automation of the manual tasks you may be performing today.

4

The power of a single platform: Patient Financial Clearance, Claim Management, Patient Payments

Point solutions can be constrained by a linear and narrow path. Often that demands an expense that’s hard to ignore. It can be easy to fall into a pattern of continually shopping for solutions that you end up having to bolt-on and manage in perpetuity – those are overhead expenses and time that can add up. Platforms can reduce operational and overhead costs in the long run and better connect data and information with the user experience to yield better outcomes.

A revenue cycle platform should have solutions that cover services from pre-visit, patient access and financial clearance through to mid cycle coding, billing and claims management, adjudication, appeals and patient payments, just to name a few key areas.

5

Seek out digital-first patient payment + engagement capabilities

A report on patient behavior found one in four people defer treatment because of concerns over the cost of care. Considering that 20-30% of a provider’s revenue relies on patient responsibility, delivering the right experience to the patient has become critical for providers.

In today’s digitally focused world, you’ll want to look for a platform that supports patient payments with omnichannel, personalized experiences. Payment platforms connect broken journeys, from the creation and communication of price estimates to pre-service collections. Indeed, selecting a unified solution ensures those broken journeys are transformed into a seamless process.

7

Security + reducing risk

Too many point solutions simply create too much risk. HiTrust Certification and SOC II compliance are important to critical patient, revenue cycle and business applications. Choosing a primary revenue cycle platform partner offloads IT overhead related to security audits and application management overhead. It also helps build trust in your organization, allowing for better utilization of your staff and less worry.

8

Look for a better partner brand experience—service you can count on, and one that patients like

One of the best indicators of a brand’s quality is how likely your peers are to recommend them. Net Promoter Score is a great barometer for measuring how a brand delivers on its promises of technology, implementation and service. Great brands often break a score of 30, and top ones can go well beyond that. But don’t stop there. Check to see how patients score their experience with the platform.