Explore how automation revolutionizes the Revenue Cycle Management landscape, empowering your team to conquer challenges and achieve peak efficiency
Revenue Cycle Management (RCM) is a critical component of the healthcare industry. It includes the processes of managing patient revenue, billing, and coding. Thus, the RCM departments are responsible for the financial health of the organization. Hospitals and healthcare organizations must maintain accuracy and timeliness in all aspects of patient care—from registration to billing and insurance follow-up—to avoid problems with cash flow. Yet, the healthcare sector is experiencing acute staffing shortages because there aren’t enough people available for these jobs. Lack of staffing in this domain influences the organization’s bottom line and patient experience.
Revenue Cycle Management (RCM) Staffing
A recent MGMA Stat poll shows that around 75% of medical practice leaders ranked staffing as their biggest problem. In addition to record-high turnover rates, recruiters frequently struggle to find qualified applicants for open positions. Revenue cycle management staffing issues became even more overwhelming during continuous pandemic-related difficulties like quarantines, missed work owing to school closings, and vaccine mandate resistance. Medical companies tried to utilize their existing billing and coding personnel to the fullest extent possible.
Visit AI-generated Content in 2023 for cutting-edge Tech Trends around AI, ML, Cybersecurity, along with AITech News
