Revenue Cycle Visibility Benefits Provider & Patients

By Scott Westcott, Contributing Writer

Providence Memorial Hospital’s investment in revenue cycle outsourcing services provides visibility into payment trends that has reduced bad debt while improving patient satisfaction.

A few years back, Providence Memorial Hospital faced a problem common to healthcare organizations — how to control costs and maximize efficiency, while also improving patient care. A key component of the hospital’s response to that challenge has been developing and executing a strategic approach to enhancing the revenue cycle. An acute care facility in El Paso, TX, Providence Memorial has blended process improvements with new technology to mitigate the continued reductions in government payor reimbursements, while also streamlining the payments and billing process in ways that have ultimately led to better cash flow as well as greater patient satisfaction.