In just the past thirty years there has been a major shift seen in the healthcare industry regarding the rise of post-acute care. From 2000 to 2021, post-acute care has increased from approximately 21% to 30%, which is a huge jump and data reports it’s not slowing down anytime soon. The American Hospital Association has even stated, “post-acute care is a growing and essential health and social service, accounting for more than 2.7 trillion spent on personal health care, and, of that, almost 15% of total Medicare spending.”
As healthcare organizations are taking on this new norm it has also brought on a heap of new challenges for their revenue cycle management. Thankfully, here at Credence Global Solutions we know exactly how to face these challenges head on to maximize your revenue stream.
Unified Billing System
When it comes to post-acute and long-term care, one of the solutions that is essential is having an integrated billing system. Why might you ask? Post-acute care covers a myriad of services such as outpatient rehabilitation, palliative care, and home health. Having one centralized billing system where patients can come to one place to pay all their bills will not only improve patient satisfaction but lead to an increased patient collection rate.
Revenue Cycle Management from Start to Finish
As RCM obstacles arise due to these new changes, it’s important to have an expert team who is well equipped to tackle any problems at any step in the revenue cycle. At Credence Global Solutions we have the expertise to manage your revenue cycle from the beginning to the very end. All the way from the pre-admissions process to collecting payment. It is our job to handle all things RCM so your company can see improvement in cash flow.
An Overview of Your Patient Population
Changes in the healthcare industry are continuous and with the rise of patients needing long term care, having a system that can identify your patient population is crucial. Being aware of your patient population and their needs can help you as a company adjust to the changes. As well as it allows you to make predictions of future trends. Our state-of-the-art software systems can monitor the patient population along with their needs all while detecting if there are abnormalities present.
The Solution is Credence Global Solutions
At Credence Global Solutions our motto is empowering financial transformation. Transformation is inevitable in the healthcare industry and it’s hard enough trying to stay up to date with all the changes, provide quality patient care, and be profitable. Hence, when you partner with us, we take RCM off your plate with the goal of transforming your company with the times. Learn more about our additional services and solutions when you speak with our team today!