Revolutionizing the Revenue Cycle: How a Service Organization Became a Tech Powerhouse

Formorethanadozenyears,AGSHealthhasdevelopedoperationalexpertise inrevenuecyclemanagement(RCM)byservingsomeofournation’slargest hospitals,healthsystems,andphysiciansgroups.Astheindustryevolvedand technologyadvanced,weinvestedwiselyinwaysthatwouldbestmeetthe changingneedsofhealthcareorganizations.

Ourtechnologyinvestments,suchastheAGSAIPlatform,greatlybenefitour customers;however,it’sourteam’scollectiverevenuecycleexpertiseand deepunderstandingofthecomplexityofthehealthcarerevenuecyclethat solidifiesourpositionastherightRCMpartnerforourclients.

Inthisblogpost,we’lldiscusswhyastrongbackgroundinRCMservicesis essentialwhenidentifyingarevenuecyclevendorpartner

Benefits of Having a Service Foundation

Todeliverthebestcustomeroutcomes,yourrevenuecyclevendorneedsto knowwhen,where,andhowourvarioustechnologiesshouldbeimplemented intherevenuecycle.Thisisaverycriticalpointforseveralreasons:

1. Notwohealthcarerevenuecyclesarethesame.Theuseoftechnology shouldbeapproachedskillfullyandaftermuchdiscussion.Youcan’t takethesametechplatformandimplementitintoeveryhealthcare organizationandexpectsimilarresults.Itjustdoesn’tworkthatway.

2. Technologycanbedisruptivewhennotcarefullyconsideredand implemented.AGS’sAIPlatformisflexibleandmodular–itallowsfor progressiveimplementation.Thismeansourcustomersavoidmajor disruptionstotheiroperationsandcanprogressontheirautomation journeyatamanageablepace.

3. Therevenuecycleisawebofinterconnectedprocessesthatcanbe easilydisrupted.Eachtimeyouimplementanewsolutionor technology,bothexpectedandunexpectedchangeswilloccurinother partsoftherevenuecycle.Takingagradual,systematicapproachallows moretraceabilityandanalysis,whichiscriticaltominimizedisruptions.

4. EventhemostadvancedAItodayisstillimperfect.Youneedexperts whocantraintheAIandinterveneinhighlycomplexclaims.Tech-only providersdon’toffertheserviceortheexpertisetosupporthealthcare customers’revenuecycles100%.Butwedo.TheAGSteamisn’tmade upoftechnologiststhatseeprofitabletechapplicationsinthe healthcarespace.Wearehealthcarerevenuecycleexpertswith proficiencyinAI,whichhasallowedustobuildaflexibleAIplatformfor ourcustomers.

The Growing Need to Optimize the Revenue Cycle

InarecentBecker'sHospitalReviewarticle,ErikSwanson,seniorvice presidentofdataandanalyticsatKaufmanHallstated,"Whilewehaveseena stabilizationinoperatingmarginsoverthepastseveralmonths,thetrendline continuestoshowthathospitalswillbeinatoughspotfinanciallyforthe foreseeablefuture.WithfutureCOVIDsurgespossibleandchallenging financialmonthsaheadforhospitals,managingcashonhandwillbecriticalto

weatheringthestorm."SwansonwasreferencingKaufmanHall'slatest “NationalFlashHospitalReport”whichwasbasedondatafrommorethan 900hospitals.

Ifyouareahealthcareorganizationandareseekingwaystogrowandcontain revenue,looktoyourrevenuecycleandpartnerwithanorganizationwiththe rightRCMexpertiseandtechnologyoffering.

AtAGSHealth,ourorganization-wideunderstandingofRCMhasbeenbuilt andstrengthenedwitheveryclientengagementformorethanadozenyears. Ouroperationalknowledgeofthecomplexitiesoftherevenuecycle,combined withourexpertiseinAI,makesusarevenuecyclepowerhouse.

Weofferstrategicguidanceforhowbesttoleveragetechnologybasedonhow yourorganizationhasoperationalizeditsrevenuecycle,youruniqueneeds, andyourdesiredoutcomes.

Ifyourorganizationislookingforastrategicgrowthpartnerthatcanhelpyou takeyourRCMtothenextlevel,connectwithustoday!

Source of content: AGSHealth Blog - Revolutionizing the Revenue Cycle: How a Service Organization Became a Tech Powerhouse