This briefing highlights key themes and the latest data on critical revenue cycle topics emerging across the past six months. Sources for the analysis include THMA’s proprietary 2024 Finance and Budgeting Survey, the 2024 Revenue Cycle Officer Forum, and both primary and secondary research.
Key Takeaways
Revenue Dilemma: Cost Cuts vs. Cash Collection Is prioritizing cost reduction over cash collection in healthcare revenue cycles a strategic misstep? With 85% of leaders focusing on cuts, are they overlooking crucial revenue opportunities in denials management and contract yield optimization?
Payer Friction: The MA Conundrum Medicare Advantage contracts yield 85-90%, with claim costs 60 times higher than traditional Medicare. As payer frustrations mount, healthcare systems are turning to AI and legal action to combat aggressive denials and improve yields.
Cyber Resilience: Rethinking revenue cycle security, recent cyberattacks underscore the need for robust defense and recovery plans. Leaders are re-evaluating vendor relationships, considering backup strategies, and integrating cyber risk assessment into all process changes to safeguard revenue streams.
Solution companies must be prepared to demonstrate cyber defense and risk mitigation capabilities and plans in this new environment. Is that something your team is prepared to do?