When it comes to revenue cycle management, we often see articles around the top concerns of revenue cycle leaders of hospital systems. Here, we share what we consider the top five concerns of hospital revenue cycle vendors, and the factors you should take into consideration when selecting your Revenue Cycle Partner.
1. How do we ensure we stay compliant with data security and privacy measures: Hospitals deal with sensitive patient information and financial data every day. As such, they must ensure that their revenue cycle vendor has adequate measures in place to protect this data and comply with regulations like HIPAA.
2. What is our ability to improve revenue cycle management: A good revenue cycle vendor should be able to demonstrate the ability to improve a hospital's revenue cycle management process. That means we need to ensure we can help with accurate coding, faster claims processing, and reimbursement. To do this, we need to utilize both technology and training to ensure our team are the most equipped to do the best job possible.
3. Being transparent about pricing: Hospitals need to know what they're paying for and ensure that there are no hidden fees. As vendors, we need to be transparent about our pricing model and provide clear, upfront pricing.
4. Ensuring product reliability and support: Vendors need to continuously maintain reliability for their services and a strong support network. This also means being fully equipped and ready to resolve any issues that arise.
5. Ability to offer customization and seamless integration: Hospitals have different needs and requirements. As a vendor - we work to make sure we can customize services to perfectly meet the needs of a particular hospital. Having a finely tuned integration process, so that onboarding is smooth and painless is also key. All of this ensures we can get the very best results quickly for clients.
If you're looking for a revenue cycle vendor who can provide these factors above, reach out and set up a meeting. We'd love to talk about how we can deliver your results quickly.