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Shifting reimbursement, evolving value-based payment models, increasing provider risk and patient responsibility, and growing regulatory pressures are driving near-constant change in the healthcare revenue cycle. Healthcare organizations that used to be paid by the encounter are adapting to emerging trends of also being selected, measured, and paid based on how they perform and collaborate with other providers to improve outcomes.
This value versus volume movement has forced hospitals, physicians, and other providers to focus on delivering high-quality, collaborative care at a lower cost, while enhancing the patient experience, including patient interactions within the revenue cycle. Additionally, these reimbursement pressures, along with the real potential of changing regulations, require revenue cycle leaders to be as efficient and nimble as possible by leveraging data and technology to maximize net revenue and lower operating costs.