Why Should You Outsource Revenue Cycle Management?

There are more reasons to outsource your revenue cycle management today than ever before. Stringent regulations, escalating costs, and the shift to value-based reimbursement models have each helped to saddle physicians with heavy burdens. Because of their high-deductible health plans, there are more patients who are responsible for their out-of-pocket costs than there had been a decade ago. These patients are more difficult to collect from than from institutional payers. Due to the drastically reduced rate of collection from patients than from other payers, healthcare organizations are spending increasingly more time and money chasing after self-pay accounts. Practices have to step up their efforts in an effort to manage their revenue cycles in order to survive.