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Building a Long-term Strategy for IT Sustainability
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Analyzing the Back-End Revenue Cycle and Important Best Practices
The healthcare revenue cycle is a continuous process that relies on each step to keep revenue flowing. However, many organizations break down the revenue cycle into front- and back-end steps to manage what happens before and after a patient encounter. Back-end revenue cycle deals with revenue collection and management after a patient leaves the exam room and the following days.
Back-end revenue cycle covers claims submission and transmission to denials management and accounts receivable (A/R) management. Efficient back-end processes are vital to revenue collection, reimbursement optimization, and revenue integrity. Obstacles to efficient back-end processes can also impact patient experience.
Healthcare providers must ensure a seamless revenue cycle; back-end optimization is key to quick and accurate revenue collection.
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Revenue Cycle Management with Automation and AI
Providers are enthusiastic about adopting automated technology in revenue cycle management, as CFOs prioritize profitability increases and invest in revenue cycle management and tech. Mount Sinai, for example, is already utilizing autonomous medical coding technology for about half of their pathology cases, with plans to expand its usage in the near future.
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Research Report: VMware Customers Weigh Alternatives
The Broadcom-VMware merger has left many long-standing customers mulling a change in their hypervisors, according to Foundry and CIO.com. Their comprehensive survey of over 550 enterprise IT leaders provides an in-depth analysis of this landscape change. Download this brand new analyst research report and access key insights, like:
- Over 56% of enterprises surveyed plan to decrease their use of VMware over the next year, according to Foundry and CIO.com
- The majority is considering a range of alternatives, with 71% looking at on-prem options
- 89% expect to need at least one full-time engineer to achieve their desired strategy
