4 Ways To Refresh Your Hospital Accounts Receivable Processes

 If you’re planning on going into 2024 with the same medical billing accounts receivable processes that you used in 2023, you’re probably sitting on untapped opportunity. 

This is because, with changes in hospital accounts receivable standards, staffing challenges, and pressures on revenue cycle leadership, most hospitals around the country will need to take a fresh look at their processes and identify opportunities to make updates. 

But it’s critical to know what your options are. This post will give you five starting points backed up by our experiences in medical billing accounts receivable that you can use as inspiration in your planning for the upcoming year. 

Rethink the Potential of Outsourcing in a Changing Hospital AR Environment
With all the advancements in revenue cycle technology, outsourcing might be lower on your list of tactics to try, but this is a mistake. 

Even the most advanced hospital revenue cycle runs on people. With the complexity and knowledge required to navigate modern revenue cycle challenges, outsourcing can be a very smart choice. This is because it empowers you to focus internal resources on planning and future-proofing revenue cycle tasks that require high levels of human intervention. It’s likely that you have a long list of non-patient-facing revenue cycle tasks that can be outsourced to skilled partners who keep up with ongoing updates to medical billing and coding requirements. 

These partners can offer sophisticated processes and workflows that would take you years to develop internally and that are still not accessible even with the most technologically advanced medical billing accounts receivable solutions. Beyond this, you now have the world at your fingertips thanks to global delivery models and offshore revenue cycle hubs that have years of experience producing great revenue cycle results. 

Sourceurl=https://www.3genconsulting.com/4-ways-to-refresh-your-hospital-accounts-receivable-processes/

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