6 AUGUST - 2022Alex D'souzaManaging Editoreditor@healthcarebusinessreview.comEffective revenue cycle management (RCM) is at the heart of every healthcare organization's continuing success. A well-rounded RCM solution is pivotal to strengthening the financial stability of healthcare practices and improving overall bottom lines. Healthcare providers looking to speed up patient payments and stay ahead of competitors are taking heed of modern revenue cycle management solutions on the market.According to Markets and Markets, the global revenue cycle management market is expected to reach $67.8 billion by 2026 from $40.9 billion in 2021.At the core of this growth is a gamut of disruptive tech trends, fundamentally changing the RCM arena for the better. One such trend is the digitalization of workflows, such as booking appointments, processing payments, and handling billing to increase revenue opportunities. Healthcare organizations are embracing telehealth solutions with full gusto to significantly improve the revenue cycle by providing patients with digital payment plans and easy ways to schedule an appointment. At the same time, data analytics is gaining prominence in the RCM space, allowing healthcare staff to predict patient behavior, such as tracking patterns to figure out patients who are taking a long time to pay their bills. Additionally, machine learning, in concert with payer portals, helps healthcare organizations automate payment posting and improve the process of managing denials. This edition of Healthcare Business Review highlights the recent developments in the revenue cycle management space and insights into how companies are aligning with these trends to transform legacy practices and improve outcomes.We have curated thought leadership articles from industry experts, including the Vice President, Revenue Management at Mercyhealth Wisconsin and Illinois and the Chief Medical Officer at University Hospitals. We also took a deep dive into the market trends to narrow down the list of companies delivering revenue cycle management solutions and services. Equipped with innovative technological capabilities, the enlisted solution and service providers, such as Alliance Health System, Revenue Enterprises, and Collect Rx, help transform healthcare organizations at the cloverleaf of various disruptive technologies. We hope this edition of Healthcare Business Review on RCM helps you build the partnership you and your organization need to foster an environment driven by efficient technology. Let us know your thoughts!A Digital-First Approach to Revenue Cycle ManagementEditorialManaging EditorAlex D'souzaEditorial StaffAaron PaulJoe PhillipJames SmithMark RobertCopyright © 2022 ValleyMedia, Inc. All rights reserved. Reproduction in whole or part of any text, photography or illustrations without written permission from the publisher is prohibited. The publisher assumes no responsibility for unsolicited manuscripts, photographs or illustrations. Views and opinions expressed in this publication are not necessarily those of the magazine and accordingly, no liability is assumed by the publisher thereof.AUGUST - 25 - 2022, volume 05 - Issue 12 Published by ValleyMedia, Inc. To subscribe to Healthcare Business ReviewVisit www.healthcarebusinessreview.com Email:sales@healthcarebusinessreview.comeditor@healthcarebusinessreview.commarketing@healthcarebusinessreview.comVisualizerVictor CruzRonald DonovanDisclaimer: *Some of the Insights are based on our interviews with CIOs and CXOs
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