But there are still many misconceptions about the way revenue cycles are handled—and whether there may be some disadvantages to outsourcing RCM, too. We’ll take a look at a few of the more common ones, dispelling myths with facts along the way.
Myth #1: Revenue Cycle Management Is About Business, Not Patient Health
Though it’s true that comprehensive RCM makes the financial considerations of your facility more efficient and effective, that should never distract from your most important goal—the health and comfort of your patients. In fact, in many ways RCM improves processes not only for your facility, but for your patients, too.
Patients and providers alike experience stress and financial strain when it comes to billing and insurance issues related to their care. By trusting your RCM to the experts at Signature Performance, you can focus on what matters most—your patients’ well-being.
Myth #2: Outsourcing Your RCM Makes Operations More Complicated
Some facilities have expressed concern that outsourcing may lead to more problems than it solves, due to the added levels of communication and cooperation between the facility and our RCM experts. However, the truth is just the opposite: comprehensive RCM streamlines the many processes that can create unnecessary complications for your facility.
Time and time again, our partnerships with clients have led to reduced breakdowns in communications and increased efficiency across the board. As always, this means fewer distractions and headaches—and more time focused on your most essential operations.
Myth #3: Trusting in Outside RCM Services Means Fewer Jobs at Your Facility
If you’re not currently outsourcing RCM at your facility, you may have several employees across various departments working in silos on essential revenue services. At Signature Performance, we take on all of these tasks, using our expertise and technology to enhance your revenue cycle quickly and correctly.
You may wonder whether outsourcing will lead to a reduction in jobs at your facility. In fact, many of our clients find that this is not the case. On the contrary, hiring RCM experts often means that you can re-deploy employees to areas where they can be more impactful. The result? Your facility will be managing the same employees and resources even more effectively.
Though it’s only natural to feel some concern over the idea of outsourcing your RCM, we’ve seen firsthand how our relationship can improve the satisfaction of both you and your patients. The problems and pitfalls of managing revenue at your facility aren’t going away, but our experts are available to help you handle that burden better.
Signature Performance is an industry leader in reducing healthcare administration costs for private and public healthcare sectors. Our team is on a quest to bend the curve of rising administrative costs in healthcare. We aim to be the foremost healthcare administrative service company in the industry successfully driving these costs down while improve the quality, access, and cost of care.