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RCM Now is a unique revenue cycle management solution. It is a technology-based consulting service designed to revamp the revenue cycle process and improve the operational management of functional teams within healthcare.
Overview
Improving payer financial operations and revenue cycle management are vital to the sustainability of hospitals and healthcare organizations. These organizations have already grown accustomed to looming financial challenges: wide-sweeping federal regulations, industry consolidation, and emerging reimbursement models have threatened to destabilize business as usual for years; then COVID-19 happened. And when hospitals ceased all elective surgeries and ramped up emergency staffing measures in response to the pandemic, they found themselves caught in an extreme financial double-bind: cut revenues and increased expenses. Even after many healthcare organizations have begun to resume business as usual – it seems clear that the need to optimize every aspect of revenue cycle management has never been greater.
Highlights
- RCM Now uses a proven methodology by working with healthcare organizations to transform their revenue cycle operations and achieve remarkable results. This approach has helped many organizations in achieving outstanding outcomes such as: reducing Bad Debt to below one percent, significantly decreasing denial write-offs by up to 75 percent, curbing staff turnover by over 40%, and providing an ROI of up to 34 times the initial investment.
- Manual, time-intensive processes limit how effective technological disruptions can be in an organization. Siloed data and siloed teams lead to lost opportunities for collaboration that could lead to quickly identifying and implementing countermeasures. RCM Now addresses these issues by creating a standard process and centralized system to manage the entire revenue cycle process.
- RCM Now’s operational dashboards provide real-time data insights to guide day-to-day revenue cycle operations. Teams can more effectively communicate about the bottlenecks they encounter and how best to resolve them. This allows team leads to make data-driven decisions about daily management processes and staffing requirements.
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