About 30% of well being methods and hospitals are unable to regulate their revenue cycle automation initiatives without having at the very least two sellers, in accordance to revenue cycle management automation company Alpha Health. And a different 30% have constructed internal automation teams, while extra than seventy six% of those people corporations are large — with $1 billion or extra in net patient revenues.
The quantities had been gleaned from a countrywide study intended to assess adoption of automation in revenue cycle functions at well being methods and hospitals across the U.S. It was carried out by way of the Health care Economical Management Association’s Pulse Survey plan, fielded amongst Could 19, 2020 and June 22, 2020 among the 587 chief fiscal officers and revenue cycle leaders at various well being methods.
What is THE Affect
Regardless of the option utilised to automate revenue cycle tasks, the course of