Sutherland, an experience-led digital transformation company, announced it has been positioned as a Leader on Everest Group’s Revenue Cycle Management (RCM) Operations PEAK Matrix® Assessment 2022. Sutherland was recognized for its excellence in developing highly advanced technology solutions and capabilities as a trusted partner to support its healthcare provider customers in end-to-end operations of the RCM value chain spanning the full breadth of patient access, medical billing, claims management, collections and accounts receivable management.
The past few years of the COVID-19 pandemic have created major financial challenges for healthcare providers. Already struggling with administrative inefficiencies, they suffered a significant revenue loss as elective surgeries and in-person visits were severely curtailed to help prevent the disease’s spread. While patients are now returning to facilities, the loss in revenue has driven a need for better RCM solutions to reinforce destabilized balance sheets, reduce costs and future proof operations against the potential for similar disruptions going forward. On top of this financial burden, providers are being significantly impacted by the “great resignation” which is facing health systems with a talent shortage. As a result, they are increasingly turning to innovation partners such as Sutherland to provide valuable skillsets and tech-enabled service offerings to help them better manage their business delivering value in a fundamentally more efficient and agile manner.
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“2021 witnessed patient volumes bouncing back to pre-pandemic levels; however, challenges such as the talent shortage and inflation drove significant deal activity in the Revenue Cycle Management (RCM) market,” said Ankur Verma, Practice Director, Everest Group. “Sutherland capitalized on this opportunity through a continuous focus on expanding its technological capabilities by making in-house investments to develop workflow and point solutions. Sutherland’s consulting-led approach to deliver RCM services, flexible commercial models, and its ability to cater to a diverse client base has positioned the firm as a Leader on Everest Group’s Revenue Cycle Management (RCM) Operations PEAK Matrix® Assessment 2022.”
Everest Group’s PEAK Matrix® assessments adopt a fact-based approach leveraging proprietary data, market experience, buyer interactions, and provider/vendor briefing to help organizations decide which vendors and service providers will best serve their needs. Everest Group positioned Sutherland as a Leader in this report in part due to the following strengths:
- A belief in meeting its clients wherever they are in their transformation journeys, with the ability to address different buyer expectations such as cost-effectiveness and advanced technology capabilities.
- Transformative, consulting-led approaches to RCM services via an in-house design center. It also offers higher value to providers through its shared risk-reward propositions via contracts with outcome-based models.
- A diversified portfolio that serves multiple client segments such as physician groups, hospitals, integrated health networks, and durable medical equipment providers.
- Investments in technology and tech enabled platforms leveraging leading edge applications of AI and automation to obviate, augment and simplify workflows and point solutions such as automation platforms for claim status, patient billing, credentialing, and other standard RCM operations for healthcare providers.
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“The healthcare industry is just now entering a new era in which the adoption of advanced business practices, the solutions-based incorporation of artificial intelligence and automation and the leverage of big-data and analytics insights can solve problems that haven’t been addressed before. However, many (if not most) providers are struggling to embrace these solutions due to a lack of scale, resources, sophistication and the staff to drive the change.” said Matthew Collier, Chief Executive Officer at Sutherland Healthcare Solutions. “We’re committed to meeting our healthcare providers wherever they are in their transformation journeys and walking with them arm and arm down the path to their digital full potential. We’re proud that our efforts have resulted in this prestigious positioning from Everest Group.”