Revenue Cycle Labor Costs

Healthcare organizations are already facing razor thin margins, and administrative waste could be the linchpin for future sustainability. Billions of dollars are at stake. I’m always surprised when I talk to doctors and ask them if know how many touches, or people, it takes to get paid for services they provide, they rarely know the answer. It’s also concerning when administrators and executives over the revenue cycle functions don’t have this information.

How can we can inspire our revenue cycle employees to be the best they can be at their jobs? Matt talks about strategies for RCM retention.

Combined practice management & electronic medical record software may not be the best choice. Doctors & financial team have difference needs.

Phone calls, emails, notes, spreadsheets, task lists – all communication that should be centralized, archived on the claim, and reported as touches. How many “touches” does it take to get a particular claim paid? An important metric for controlling labor costs.