| | SEPTEMBER 20218UTLOOKHealthcare Tech IN MY OPINIONRevenue Cycle Management (RCM) models are gaining traction within the healthcare industry as it's extensively recognized for its ability to reduce management complexities. The space is changing, and the operations behind healthcare compensation is changing with it. Healthcare organizations have been going through an unprecedented crisis for the duration of the pandemic, where entire service lines have closed down to focus completely on stopping the spread of a deadly virus. Meanwhile, healthcare agencies have been going through a virtual revolution. Organizations are focusing on streamlining the entire manual processes, switch from paper records to electronic databases, and send administrative personnel home to work. Revenue Cycle Management is critical for healthcare to hold monetary viability and offer higher care to their patients. What are some of the significant challenges and trends that have been impacting the Revenue Cycle Management space?Lets be honest, all hospitals and physican practices had major losses in revenue over the last year. Many don't realize that when you shut down a country healthcare stops. Less ER Visits, less preventative care, less of everything. We are surely paying for some of that now as our patients are sicker having put off their preventative screenings, but that's a Automation and Artificial Intelligence transforming the Revenue Cycle SpaceBy Kimberly Scaccia, Vice President, Revenue Management, Mercy Health Wisconsin and Illinois
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