Revenue cycle management leaders are looking for a unified RCM solution that can easily integrate with their existing infrastructure, according to a Porter Research survey commissioned by Finvi, a leading provider of enterprise workflow automation software built to accelerate revenue recovery and simplify the payment process.
In the survey, RCM leaders in healthcare centers across the United States identified the need for a more efficient and unified front-end solution—something that incorporates the critically important tasks of pre-authorization, scheduling, and pre-registration with efficient and effective (and patient-friendly)—revenue collection.
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“Having all the tools available—from ensuring you have the correct insurance eligibility up front, to scheduling, to proper coding, and obviously claims processing, identifying underpayments, identifying denials, identifying trends—it just makes life easier,” said a revenue cycle director at a large healthcare system.
Pre-authorization, scheduling, and pre-registration were the tasks identified by survey respondents as the biggest pain points among their RCM activities. Without a fully integrated solution, organizations must rely on manual processes, leading to errors, delays in patient care, and even denials of payment. All of this results in a poor patient experience, as well as unnecessary frustration for healthcare organizations.
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“The survey results show that organizations require a unified platform that automates and streamlines operations in the most efficient, scalable ways possible,” said Tim O’Brien, CEO at Finvi. “That strengthens our resolve at Finvi to deliver an intelligent workflow platform for healthcare providers and outsourcers that creates a seamless end-to-end user experience, while providing tight integration with existing infrastructure.”
“Organizational needs change on an almost daily basis, and top solution providers, such as Finvi, continually use data to enhance their offerings and solve customer problems,” said Cynthia Porter, CEO of Porter Research. “Finvi uses a research-driven approach to enhance its products to address the immediate pain points of the markets it serves as well as its customers. Finvi takes great care to fully understand the needs of its target markets and provide organizations with advanced solutions to successfully compete today and stay prepared for future growth.”