The predominately not-for-profit acute care delivery systems have yet to realize the billions of dollars of financial improvement from the automation of administrative functions. The narrow margins have prevented the investments in people, process and technology that were required by the highly competitive investment, retail and banking industries to enable organizations to lower cost, improve quality and compete as a going entity. The healthcare industry is now in the position to leverage automation to realize significant financial improvement from administrative functions of the Revenue Cycle with the potential of Eliminating the Business Office.
Although there are not overall process automation solution available today in the healthcare delivery industry, providers have significant opportunities to realize large financial improvement in each of the 18 Revenue Cycle processes outlined in this presentation. It provides insight into the advances in individual processes within Patient Access, Care Management, Charge Capture, Health Information Management, Business Office and Managed Care. This will enable Revenue Cycle professionals to evaluate opportunities for financial improvements in context of the current and future state of the automation of healthcare administrative Revenue Cycle functions.