In a Down Economy, Tightening and Automating Revenue Cycle Processes Can Significantly Improve Group Practice Financial Performance
In a down economy, tightening and automating revenue cycle processes can significantly improve group practice financial performance. The trend among employers to shift health care costs to employees is likely to accelerate. Many patients may lose coverage altogether. These trends will strain the ability of many medical groups to maintain physician income and adequate cash flow to fund operations. Developing the capability to accurately bill patients at the time of service will help prevent losses. It requires auditing, improving and, where possible, automating basic revenue cycle functions.
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