Your revenue cycle plays an important part in your overall financial success. It also aids in your ability to provide care to your communities.
Here are the top 4 benefits of outsourcing healthcare revenue cycle management.
- DENIAL RATES
The average denial rate drops 3% – 3.5% when managed by a medical billing services company.
- DAYS CASH ON HAND
The average number of days cash on hand increases 30 – 40 days.
- DAYS ACCOUNTS RECEIVABLES
The average net patient accounts receivable (A/R) days reduces 25 – 35 days.
- BLENDED ENCOUNTER RATES
The year-over-year increase in blended encounter rates for third party payers improves by 20%.
Health centers that outsource their revenue cycle management have achieved significant financial performance improvements and have reported a high level of satisfaction. Improved revenue cycle management can provide a financial ground that will allow you to focus on other important aspects of health center operations and management.