Cash is Queen Says RCM Experts

Revenue provides stability and flexibility to healthcare organizations. Both are extremely valuable as patient volumes remain below pre-pandemic levels. The healthcare staffing crisis is also putting severe margin pressure on organizations. To address this challenge, organizations are turning to technology and partnering with specialized vendors to improve their revenue cycle processes. Healthcare IT Today recently sat down with two experts in revenue cycle management (RCM) to discuss how adopting technology and properly motivating people can make a big difference: Jess Stover, Senior Vice President of Revenue Cycle Management Division at SimiTree, a provider of financial, clinical and operational consulting, including outsourced billing; and Derek Shaw, President at Invicta Health Solutions, a company that combines technology and people power to help healthcare providers improve operational and financial performance Cash is Queen “It’s always about cash,” stated Stover. “Improving cash and improving the bottom line is the goal. We become an extension of our clients to get that cash in so that our healthcare clients can continue doing what they do best – providing optimal care. I like to say cash is queen.” Cash gives healthcare organizations the stability to weather challenging times and make the necessary investments in technology and people to continue delivering quality care. “Jess is spot on, cash is queen,” echoed Shaw. “The queen is the most fle...
Source: EMR and HIPAA - Category: Information Technology Authors: Tags: Healthcare IT HIM Hospital - Health System Revenue Cycle Management Derek Shaw gamification Healthcare Revenue Healthcare Scene Featured Inovalon Invicta Health Solutions Jess Stover Michael Quinn RCM SimiTree Workflow Automati Source Type: blogs