By Greg Bengel, contributing writer
In a recent article, two providers give actionable information on what providers can be doing to begin replacing their old RCM technology
Just last week, Health IT Outcomes reported that the need to upgrade RCM technology has caused demand for RCM consultants to rise. However, it has also been widely reported that this need to upgrade RCM technology keeps getting pushed on the backburner. According to a Black Book survey, about two-thirds of the hospitals who said in 2012 that they were going to replace or upgrade their RCM systems within 24 months have not yet actually made any plans to begin doing so. According to Black Book, even while 88 percent of CFOs believe they need to replace their RCM systems, 28 percent of CFOs had not begun doing so, citing other, more pressing priorities as the thing standing in their way.
Becker’s Hospital Review recently released an article that provides real advice to providers who are ready to think seriously about replacing their RCM technology. “Rather than overshadowing revenue cycle management system upgrades,” the article summarizes Kathy Keenan, delivery director of CTG Health Solutions, “these other priorities, such as the transition to ICD-10 and the implementation of electronic health records should motivate hospital and health system CFOs to revamp their revenue cycle management process to increase efficiency.”
The article gives four pieces of advice for hospital CFOs who want to replace RCM systems, courtesy of Keenan and Money Atwal, CFO and CIO of Honolulu-based Hawaii Health Systems Corporation's East Hawaii Region.