21 June

Top 4 benefits of outsourcing healthcare RCM

Your revenue cycle plays an important part in your overall financial success. It also aids in your ability to provide care to your communities.

 Benefits of outsourcing healthcare revenue cycle management to MEDCOR Revenue Services.jpg

 

Here are the top 4 benefits of outsourcing healthcare revenue cycle management.

 

  1. DENIAL RATES

The average denial rate drops 3% – 3.5% when managed by a medical billing services company.

 

  1. DAYS CASH ON HAND

The average number of days cash on hand increases 30 – 40 days.

 

  1. DAYS ACCOUNTS RECEIVABLES

The average net patient accounts receivable (A/R) days reduces 25 – 35 days.

 

  1. 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.

 

Download free RCM eBook from MEDCOR Revenue Services

Revenue cycle management

Written by Jonathan S. Gerber RN MBA

Is the Founder & CEO of The MEDCOR Group. He has over 35 years of experience in the healthcare arena ranging from hands-on clinical to executive level operations. Mr. Gerber has provided administrative support and advice to hospitals, MSO’s, medical groups, IPA’s, health plans and individual physician practices for more than 20 years. As the CEO of several healthcare related companies he improved operational efficiency and productivity, setting best practice benchmarks while meeting client needs. Mr. Gerber received his BSN from Arizona State University and MBA from USC.

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