Rev Cycle Matters: A Quick Look At The Revenue Cycle Space

In this post: Potential loss of RCM jobs, ICD-10 impact on rev cycle, and insight into hospital CFO thoughts on revenue cycle systems and purchases.

What Does 2015 Hold For Revenue Cycle?

A recent report from Navigant’s Center For Healthcare Research And Policy Analysis reports that revenue cycle management will be part of a “watershed year” in the healthcare industry. This is mostly due to uncertainty around the ACA, the rise of accountable care organizations, and an industry-wide shift from fee-for-service payment models to value-based solutions. As the report states, “Bundled payments, value-based purchasing, penalties for avoidable readmissions and unnecessary care, and other programs have a single aim: to replace fee-for-service incentives with results”. Read more at RevCycle Intelligence.

Preparing For ICD-10 Impact On Rev Cycle

This ebook, available on Healthcare Informatics, covers the impending ICD-10 implementation deadline (October 15, 2015) and the impact it will have on the revenue cycle process. It covers topics including,

• Myths and rumors about policies and coding
• Steps to monetize the ICD-10 implementation delay
• The tech and processes CIOs are accessing to optimize RCM operations
• How providers are handling costly system overhauls and new technologies

CFO Thoughts On Revenue Cycle

Healthcare Finance News reports on a Black Book survey that breaks down CFO thoughts around RCM. The article includes insights into concerns and how they differ by hospital size, CFOs and how they view their revenue cycle decisions as affecting their employment security, and opinions on the importance of revenue cycle software.

Revenue Cycle Market To Grow Into 2019

This report on What Tech estimates that the revenue cycle management system market will grow at a compound annual growth rate of 7.2 percent through 2019, facilitating a growing demand for RCM solutions across the North American region. Growth, however, may be inhibited by factors such as the high cost of healthcare IT solutions, and limited investment in the sector. For more details, the report can be accessed here. (Free 10% customization offered.)

Rev Cycle Jobs At Risk

This article from the Harvard Business Review examines factors that are attracting tech companies to the healthcare space. Changes like price transparency, digital insurance products and reference pricing tools are creating an environment that may mean a drop, or large shift in current revenue cycle jobs, including revenue cycle managers (hospitals) and claims adjudicators (insurance companies).

Hospitals Seeking Next Gen Revenue Cycle Solutions

A fourth quarter survey from Black Book shows that 40 percent of hospitals are finding themselves strained financially, and putting off revenue cycle solutions purchases, largely because of “misjudged EHR, HIE, and patient portal expenses.” This has led to a postponing of RCM solution purchases until at least 2016. Another 41 percent of respondents said their organizations were in good financial health, and planning on looking into next generation RCM tools, with 90 percent of them saying they are currently implementing new rev cycle management systems. Read more at Healthcare Finance News.

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