account systemsHealthcare providers are always seeking solutions to ensure reimbursement remains steady amid stiff competition. By taking the time to analyze data, it is possible to boost revenue cycle performance and payer contracts, while ultimately keeping the bottom line at the forefront. How does a provider go about this?

Payers are increasingly transitioning from volume of care provided to value-based care. Hence, it is essential for hospitals and physician practices to intimately analyze health outcomes such as mortality, readmission and patient experience. These data analytics may assist hospitals with getting a better grasp of their outcomes and using the data to their benefit when it comes to negotiations involving payers. The data can also help identify areas where hospitals could gain more revenue.

Data analytics can also prove useful in the revenue cycle. For example, an organization can determine which patients have the greatest likelihood of skipping a scheduled medical appointment by taking into account past behavior. This also allows the organization to figure out which services have the greatest odds of resulting in lost revenue when skipped. Additionally, analytics can assist with identifying where revenue cycle reimbursement delays are occurring. That data can then be used towards preventing future delays.

This update is by Medical Accounts Systems, a full-service healthcare revenue cycle management company providing a number of services including insurance follow up and managed care disputes, physician reimbursement, extended business office services, and more. For additional information on our services or for any questions you may have on topics such as medical bill debt collection, please call 877-759-6315.