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When 1+1+1+1 Does Not Equal 4: How Revenue Cycle Management Components Work Together to Yield True Performance Improvement

Even if math wasn’t your favorite subject, you probably remember how great it felt when you aced those milestone concepts—from adding to calculating percentages to learning algebraic formulas. Yet despite what you learned in school, 1+1+1+1 doesn’t always equal 4. In the case of revenue cycle management, claims management plus cost estimates plus patient billing and payment automation plus data analytics equals one total revenue cycle management (RCM) platform.

A Total RCM Platform can provide a clear and connected plan for claims management, patient payments, price transparency and data analytics—thus driving complete performance improvement.

Traditionally, healthcare revenue cycle management teams have maintained two separate functional areas for claims management and patient payments. In recent years, organizations have prioritized data analytics as a third component of RCM; however, the majority (55%) did not have a solution as of Navicure’s 2016 analytics survey.

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Now, through the Total RCM Platform, everyone in your organization can have tools along with the contextual information they need to drive better financial performance. In addition to helping your organization achieve better financial performance, the Total RCM Platform can enable your team to reach new levels of productivity—automating many traditionally manual tasks.

As organizations financially engage with their patients, transition to value-based care, adhere to price transparency laws and help their patients adjust to rising healthcare costs, a complete revenue cycle solution can help. The Total RCM Platform’s value is far greater than its parts—watch our quick video to learn more!

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