Why Providers Should Use Cost to Collect as a Key Financial Health Indicator

Healthcare providers must understand the revenue cycle to optimize financial performance, from scheduling to reimbursement. Traditional metrics like fee-per-claim often miss broader operational costs affecting profitability. Cost to collect is a comprehensive metric capturing total revenue cycle expenses. Analyzing this data helps identify inefficiencies and reduce costs. Strategies include:

Automating processes for speed and accuracy
Training billing staff to reduce errors
Improving patient payment systems

AI and machine learning can streamline the cycle, reducing manual work and errors. Adopting a cost to collect approach uncovers hidden costs, optimizes operations, and boosts the bottom line.

Vendor:: Zelis
Posted:: Oct 13, 2024
Published:: Oct 14, 2024
Format:: PDF
Type:: White Paper

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