Do CFOs Get The Real Point Of Revenue Cycle Management?

A recent report from Black Book has revealed that CFOs  know they need RCM tools, but that pursuing Meaningful Use standards has left them strapped for cash, and unable to make the jump to investing more in rev cycle. While the survey reveals a shift away from fragmented, niche rev cycle solutions in favor of end-to-end vendors, the study reveals something bigger.

Revenue Cycle Management has a fundamental communication problem.

At no point, if revenue cycle services do what they’re designed to, should a hospital leader feel like they are a “cost”. Their perception should be that of an investment that pays for itself. Even if an executive isn’t ready to commit to an expensive software overhaul, they should still be seeking out your services as a benefit and allyship in navigating an increasingly cost-conscious healthcare environment.

When was the last time they received a white paper from you? A case study? A simple email explaining exactly how the financial benefits of your RCM products and services impact what they do? Have you explained to them how to most efficiently use what you offer to address their key concerns? Do they even feel you understand their pain points?

Why has it been so long? What can you do right now to change that?