How important is the revenue cycle? Do we even have to ask?

How important is revenue cycle management to a healthcare organization?

After all, when we break down the jargon of revenue cycle – administration and clinical functions, capture, management and collection, patient service revenue – into simple language, what we’re really talking about is getting paid on time and in a timely fashion.

And to get paid on time, everything within the revenue cycle has to spin at peak efficiency to protect against operating losses resulting from human error, technological breakdowns or customer defaults.From patient registration to denial management, the healthcare revenue cycle demands clean data – data free of misspellings, missing documents and incomplete information – and automated processes to work fast and efficiently.

But that’s not happening. Not everywhere, at least.

Hospitals and health systems are still battling against manual processes, paper delays, and a hurried staff that must search multiple data systems – and in many cases old-fashioned filing cabinets – to find information.

Rev up your revenue cycle
By transparently integrating with a hospital’s existing technology infrastructure, OnBase’s Revenue Cycle Management solution provides an end-to-end solution that enhances patient satisfaction and helps boost the bottom line. How so?

By automating processes and strategically uniting patient data from one end of the rev cycle to the other, healthcare organizations can accept more claims, maximize reimbursements, accelerate cash flow and decrease days in accounts receivable.

Sure, we’re talking “blue sky” a bit. We recognize that there is no “one size fits all” solution. In fact, we want healthcare organizations to implement solutions at their own pace. Shoehorning a rev cycle solution in place is more like to tear the process down than rev it up. Tailored departmental solutions ensure hospitals pay only for the functionality they need, when they need it. Additional revenue cycle processes are easily added when healthcare organizations are ready.

It’s not a replacement, it’s an enhancement
Often, a healthcare organization has more than one system to handle its billing. Mistakes are made when end users learn more than one system and mix-up the processes for each. And, just like that, you’ve extended your revenue cycle.

By integrating those different systems, users can do their work in OnBase, instead. Charges are automatically posted to multiple billing systems simultaneously, improving efficiency and taking days out of the accounts receivable process. Users have onlyone application to learn for daily use, reducing errors and eliminating the time wasted on working with different systems.

Whether you’ve invested in a new HIS platform or just leveraging existing systems, the OnBase Revenue Cycle Management solution is designed to work with your current technology infrastructure to maximize your investment.

Learn more by reading “OnBase Revenue Cycle Management keeps your cash moving”