On Demand Webinar | Overview | Revenue Cycle Technology
Currently facing health care organizations are the challenges of reducing the total cost to treat patients. Through data, executives may be able to demonstrate that a well-coordinated robotics service line has the potential to reduce clinic...
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On Demand Webinar | Basic | Revenue Cycle Technology
From denied claims to missed prior authorizations, there are plenty of processes within the revenue cycle that can be time-consuming, cumbersome, and prone to human error. The opportunity to tackle these challenges through artificial intell...
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On Demand Webinar | Basic | Revenue Cycle Technology
Many of American's most successful enterprises have learned that they live in a data economy, and that using advanced analytics to monetize their data assets is the best way to achieve peak business health. Whether non-profit or for-profit,...
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On Demand Webinar | Intermediate | Revenue Cycle Technology
An optimized middle revenue cycle improves provider financial performance by supporting medical necessity, decreasing the time it takes to get claims paid and reducing claim denials. Strong clinical documentation is a key performance driver...
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Trend | Revenue Cycle Technology

Data Integration Challenges Prevalent with Outside Vendors

Trend | Revenue Cycle Technology

Data Integration Challenges Prevalent with Outside Vendors

Today’s revenue cycle increasingly relies on external business partners to process payments. Unfortunately, passing accounts back and forth from the business office to outsourced vendors brings data integration challenges. Often, reconciliation issues occur when the same account is in multiple locations such as with the hospital and the outsourced vendor. This breakdown in inventory integrity raises operating costs, reduces recoveries, and erodes trust among vendors, business office teams and patients.

What Do You Have to Lose (and Gain)a 2018 Waystar white paper, found that an average of 23 percent of accounts across three health systems had some form of account inconsistency. Essentially, 23 in 100 accounts being worked by organizations outside the healthcare system had a data issue. Reconciliation issues include a myriad of problems, including location issues, balance mismatches, and accounts can have mismatches between vendors and hospital patient accounting systems. 

 

 

About the Author

Matt Hawkins

is CEO, Waystar.

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