Re-thinking Revenue Cycle Management – An Industry-Wide Project

by Pam Jodock, Senior Director, Health Business Solutions, HIMSS

The need to re-engineer revenue cycle management (RCM) has increased with the shift toward consumerism in healthcare and massive changes in the collection of revenues, rising to the point where tune-ups and incremental bolt-on solutions are no longer sufficient.

The RCM space requires a revolutionary step forward and industry-wide collaboration to create a model offering the necessary capabilities and operational efficiencies to put the consumer and quality care at the center. Providers are no longer able to tweak or tack-on new capabilities to the already over-taxed RCM solutions, processes and staff. A fresh look at enabling a positive patient financial experience is required. RCM executives and CFOs agree that it is time not only to invest in this space, but also to rethink the current RCM model completely.

To conceptualize a pilot model for the next-generation RCM, healthcare leaders and financial service organizations are coming together through the HIMSS Revenue Cycle Improvement Task Force (RCITF). The Task Force has initiated a cross-stakeholder dialogue among providers, payers, vendors, consultants, associations and governmental contributors, to create a vision for the next generation of revenue cycle management tools and processes that keep administrative cost containment, interoperability and consumer engagement front and center.

They will be sharing this vision through the unveiling of an infographic depicting the financial experience of the future during the HIMSS15 Annual Conference in Chicago, Ill.

By leveraging infrastructure innovations already being utilized by financial institutions and bringing together each player in the payments chain, there is an opportunity to develop a solution to support the evolving healthcare delivery process and revenue cycle management, ultimately putting consumers at the center.

HIMSS15 Logo

 

Attend #HIMSS15 education and networking sessions, during HIMSS15 in Chicago, Ill., April 12-16

 

Monday, April 13                                                                                

7-7:45 a.m. CT , Interoperability Showcase

Revenue Cycle of the Future:Revolutionary Model Created for Healthcare Revenue Management in a Consumer-Centric World

Conference attendees are invited to join members of the RCI Task Force to learn about individual perspectives on the model be

Wednesday .April 15                                                                          

8-9 a.m. CT. , Room S405B

Revenue Cycle Management Community Feedback:
Creating a Consumer-Centric Next Generation Revenue Management Model

Provide your feedback during this follow-up session to the Monday discussion with the RCI Task Force.

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