Revenue cycle management in the nations healthcare industry is ill-equipped to handle market forces, a recent report from the HIMSS Revenue Cycle Improvement Task Force contends.
Rapid growth in consumer payments, reduced payer reimbursement rates, an ever changing regulatory environment, and shifting consumer expectations have all contributed to the challenges facing RCM, according to the report. The current approach of bolting on new technologies and reworking internal processes will not sufficiently address these challenges.
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