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| Home > For Healthcare Providers > Hospitals > Enterprise Revenue Management |
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| Home > For Healthcare Providers > Hospitals > Enterprise Revenue Management |
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Enterprise Revenue Management |
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Introducing a New Category of Financial Management: Enterprise Revenue ManagementShrinking margins, escalating debt and uncollected payments are just a few of the challenges that keep a health care executive up at night. But with the health care industry treading water under the weight of considerable financial strain, it’s an unpleasant reality for many. Unless the economics of care improve dramatically, the health care industry will continue to struggle and health care constituents will feel the painful pinch of what’s become an unforgiving financial crunch. To create a brighter financial future, health care organizations need to go beyond simply improving current revenue cycle management processes. These types of financial challenges call for dramatic change, not simply a revved-up version of current revenue cycle practices. What’s needed is the creation and implementation of an entirely new category of financial management: enterprise revenue management. Enterprise Revenue Management—Reinvent the Way You Manage and Collect RevenueEnterprise revenue management is a new health care business discipline designed to improve the economics of care by reinventing financial processes and connecting key health care stakeholders: hospitals, payors, financial institutions, physicians and consumers. With enterprise revenue management, health care organizations use software, services and connectivity to completely reinvent the way they manage and collect revenue. This new paradigm redefines processes, relationships and organizational structures associated with three disciplines of financial management: access management, business management and consumer management and, in doing so, vastly improves the economics of care.
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