Revenue Cycle Management: Creating Cash Flow Advantage
"Real news is bad news, " said famous communications theorist Marshall McLuhan. Here's the real news: Costs to deliver healthcare continue to spiral upward (albeit at a slower pace than during the late 1990s and early 2000s) as increases in labor, real estate, supplies and equipment outpace provider revenue growth.
And like any business, healthcare organizations face increased competition from smaller, more profitable service providers such as outpatient MRI and cardiology centers. According to Daniel Thiry, managing partner of healthcare consulting firm Revenue Cycle Solutions in Pittsburgh, competition has taken a significant portion of a profitable business away from traditional providers. "If this trend continues, they will be in even worse shape than they are now."
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