Nearly 69 percent of hospitals and health systems use more than one vendor solution for revenue cycle management, according to a recent HIMSS Analytics and Dimensional Insight survey. This combination of revenue cycle management solutions can create workflow inefficiencies and actually increase the cost to collect for hospitals and health systems.
Survey respondents using more than one revenue cycle management solution also reported more issues with claim denials management compared to their counterparts with more centralized solutions. Inefficiencies and higher costs associated with varying revenue cycle management solutions only gets worse as health systems grow in size.
Ascension, the nation’s largest non-profit health system, recently tackled this issue of revenue cycle management standardization among its 151 hospitals across 21 states and Washington, D.C.