The revenue cycle is a critical healthcare process, and its management is central to the business of healthcare. But revenue cycle management is complex and frequently wrought with inefficiencies.
Many hospitals and practices recognize this and are prioritizing revenue cycle management optimization in order to keep delivering on their missions. Those efforts, which include technology implementations, workflow overhauls, and additional hires, among other items, can be successful. For example, data analytics solutions have been proven to increase revenue cycle efficiency for some providers, while new patient billing processes have improved collection rates across the board for others.
District Medical Group (DMG), an Arizona-based integrated medical group of over 650 providers handed over its revenue cycle management operations to R1 in March after deciding that the group’s core strength is quality clinical care, not revenue cycle management.
In this article with RevCycleIntelligence, Craig Jones, CFO of DMG discusses why the medical group decided to partner with R1 and why outsourcing has been the right choice for DMG.