The last 15 years have shown more regulatory changes than the last 100 years of health care reform, combined. When it comes to RCM, more health care organizations are finding themselves having to do more with less. Due to increasing pressures, more practices and health systems are choosing to outsource RCM services.
Cerner RCM services offer a true partnership for our clients, a shared responsibility and accountability, and proves that we are invested in our clients’ success beyond any of our competitors. By integrating people, process and technology, we help our clients improve workflow efficiencies, meet organizational metrics and control their cost to collect.
Capacity
Cerner has the infrastructure – or capacity – of expertise, which helps avoid unnecessary disruptions that often occur with process or regulatory changes, and allows our teams to continually achieve best practice results.
Competency
Among the many challenges facing organizations is the implementation, training and inevitable learning curve of a new revenue cycle system. Through RCM services, our clients are able to streamline the process by utilizing our billing experts – who are also solution experts – which minimizes touches and reduces the number of resources required.
Cost
And last, but often most important to financial leaders, is cost. It’s common that the first strategy a CFO employs is reducing the spend – and doing more with less. Leveraging Cerner for RCM services allows organizations to do just that – our expertise, skill set and singular devotion to the revenue cycle, and our vast resource pool, allows our clients to save money while improving financial performance.
Sept. 1 will mark a year since I joined Cerner, and what a year it has been. Over the past several months, I’ve had the pleasure of forming relationships across our associate and client base and collecting feedback to ensure we are providing solutions and services that meet the evolving business needs of our clients and the industry we serve. While the very nature of our business requires change and agility, I believe our solutions and services have made tremendous progress in the first half of 2017.
Revenue Cycle Management Update 2017 Progress and Looking Ahead
Cerner RCM Services
We have a great partner in Cerner. They put skin in the game with [their] revenue cycle management services.
— Ryan O’Hara, Executive Director, Revenue Cycle, Northern Arizona Healthcare
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The health IT landscape is constantly evolving. Shifting consumer behavior patterns, coupled with the industrywide transition from fee-for-service to fee-for-value models, means that hospitals and health care providers must structurally adapt in order to remain successful.
How a Clinically Driven Revenue Cycle Can Build a Healthier Bottom Line
Revenue cycle management outsourcing is no longer just about cutting costs. For many hospital systems, outsourcing is about remaining competitive. Payment reform has transformed how healthcare companies do business, and will continue to keep organizations on their toes for many years to come. Hospital systems of all sizes are seeking financial service partnerships to improve processes and drive new revenue efficiency. But financial management partnerships are rarely "one-size-fits-all." Intermountain Healthcare and Sumner Regional Medical Center structured very different financial service partnerships with Cerner to custom fit their organization's unique needs. As hospital leaders look to the future, they must find more efficient account resolution processes, better liquidation rates and more aggressive payer denial mitigation protocol, all at the lowest cost to collect.
Why More Hospitals Seek Revenue Cycle Experts to Protect Finances, Gain Competitive Edge
Technology advancement and industry shifts are driving more hospitals to adopt new strategic business models to protect their bottom line and maintain market share among financially agile competitors. By 2018, CMS predicts 50 percent of its payments will be tied to value-based models, compared to 30 percent in 2016. As government and commercial payers begin to impose outcomes-based contracts alongside fee-for-service payments, health care providers must optimize existing revenue cycle processes, while adding advanced and congruent technological capabilities to their financial wheelhouse. Developing advanced financial capabilities in-house, however, can be both cost-prohibitive and time-intensive.
More Hospitals Seek Revenue Cycle Partnerships to Protect and Improve Bottom Line, Market Share
Your business needs are unique. And that's why we've designed our revenue cycle management services to address the complex challenges of managing your revenue cycle operations. As health care shifts from volume to value, we help organizations, like yours, prepare for regulatory changes so you can maximize reimbursements while maintaining high-quality care.
Verify expected reimbursements and manage any variances and denials right within your workflow.
Connect clinical and financial information and automate utilization management, clinical documentation improvement and discharge care management within Cerner’s EHR.
Enable a comprehensive workflow including registration, scheduling, patient tracking, patient accounting and reporting through a single platform in the ambulatory setting.
Get complete and accurate information at the point of service to help manage your cash flow.
Electronically monitor, support and manage health information of all types for a comprehensive, secure medical record.
Integrate a full data-driven approach to managing your Revenue Cycle program to drive value through your financial operations.
Yes, hospital systems of all sizes are seeking revenue cycle management services partnership to improve processes, drive new revenue efficiency and manage payment reforms.
From short-term project support to long-term engagements, we’ve designed our services to meet the unique business needs of all organizations and venues of care. This includes the following:
Account resolution:
Denial management and prevention:
Patient/Provider experience
Partnership roles can flex based on specific partnership scope and client needs, but generally speaking, responsibilities are broken out in the following ways:
Full outsource
