25 Things To Know About Revenue Cycle Management
The healthcare revenue cycle is just beginning to feel the effects of consumerism as employers, providers and patients focus on containing healthcare costs. Today’s growing financial pressures on healthcare organizations will continue to increase as consumers bear greater financial responsibility for footing tomorrow’s healthcare bills. As reimbursement methodologies change and calls for transparency increase, the desire to move revenue efficiently remains the heart of healthcare. From market forecasts, to RAC audits, to the top ranked RCM vendor, here are 25 things for healthcare professionals to know about the revenue cycle market: 1. Soaring market growth. The revenue cycle management market, valued at nearly $18.3 billion in 2014, is expected to soar to $32.2 billion by 2019, according to a MicroMarketMonitor report. 2. Reimbursement ranked the number one concern. Healthcare decision makers reported reimbursement is the biggest problem facing health systems...