As the industry evolves, provider organizations will need to continue to adjust to attain revenue cycle excellence. A provider’s financial well-being is nearly always tied to the revenue cycle of the clinical practice. Higher-performing organizations have high levels of stakeholder engagement “up and down” the organization creating cascading scorecards that build toward common organizational goals.
From large-scale initiatives that bundle enhanced revenue cycle functions with overall organization performance, to new technology implementations, to effectively leveraging outside expertise, modernizing the revenue cycle involves more than taking a few steps and is more of a journey. Architecting a modernization process is best begun by developing and documenting process workflows and overlaying functional
A provider’s financial well-being is nearly always tied to the revenue cycle of the clinical practice. The commitment to measuring and monitoring performance is key for making process adjustments and setting appropriate goals. Technology integrated with practice management (PM) systems can accurately automate many RCM processes, which effectively increases cash flow, decreases staffing need, and
Our ongoing surveys of the healthcare environment have provided feedback from over 150 healthcare systems across the spectrum – general practices, specialist practices, acute care, behavioral health, substance abuse – and more than three-quarters identify the revenue cycle as their most pressing non-clinical challenge. Revenue cycle management is complicated and undergoing externally driven structural change
Successfully implementing an effective RCM strategy relies on developing a cohesive framework that is to be managed. For the purposes of this discussion, I’m defining the healthcare revenue cycle to include all administrative and clinical functions that contribute to the capture, management, and collection of patient service revenue. At a high level, the many steps
CTI Healthcare blog series: A Prescription for Improving Patient and Institutional Financial Wellbeing The “Now” Healthcare Innovation Part 3 of 5. The business of healthcare is a mess. Observe the deep-rooted dual challenges of escalating costs coupled with deteriorating health – it’s an unsustainable paradox not only for the healthcare industry but for society in
For the past few years we’ve worked closely with Higher Education Institutions on applying data analytics to optimize student admissions, financial aid, student retention and academic outcomes. We recognized from the onset that this student “lifecycle” has a straight progression to an alumni lifecycle which has a critical goal of fostering school loyalty and giving.
At least that’s what I thought when I first starting hearing about graph database technology. I’m a business person, not a database expert. Our business is simply stated, delivering high value insights for the enterprise through analytics. So, when our CTO, Kurt Rosenfeld, explained to me what “what is possible” with graph databases I knew
In part 5 of 6 Vlogs, CTI’s Director of Cybersecurity, Ben Thurston makes the connection between cybersecurity monitoring and analytics. Ben explains the importance of analytics in gathering data and information from multiple security sources to provide insight into what is going on from a security/risk posture. Security analytics, like the CTI CustomerUniverse, collects information
In this part 4 of 6 video blogs, Mark Janowicz, Product Director of CTI CustomerUniverse explains how CTI provides marketers with insights and analytics to help complete the 360-degree view of the customer. Touching on the unique attributes of the CTI CustomerUniverse; Mark discusses how customer insights and analytics allow Marketers to review behaviors as