Blog

Make Your Revenue Cycle Management Vendor a Key Strategic Partner

By AGS Health

April 11, 2023

Resource constraints continue to be a growing concern in healthcare. Increased denials and costs, ongoing staffing challenges, ever-changing administrative requirements and government regulations, and shrinking margins have many healthcare executives questioning what more their organizations can take. And the hits just keep coming.

More than 230,000 physicians, nurse practitioners, physician assistants, and other clinicians (nearly 1 in 5 healthcare workers) quit their jobs since 2020, according to a report based on an analysis of medical claims data from Definitive Healthcare. While burnout and a generation nearing retirement are contributing to the challenges, a recent survey released by Elsevier Health, called “Clinician of the Future,” predicts that up to 75% of healthcare workers will be leaving the healthcare profession by 2025.

Nearly 1 in 5 healthcare workers have quit their jobs since 2020.

When faced with these factors, how can healthcare organizations create stability and profit?

“Healthcare organizations need to engage with their vendors as strategic partners in order to optimize their revenue cycle operations and grow their revenue,” said Cheryl Cruver, CRO of AGS Health. “We’ve found that our diversified experiences as a service provider have positioned us well to engage in strategic conversations with our customers and provide unique perspectives from most other healthcare organizations.”

Partner for Success

The best way to diagnose a problem and build the right path forward is to listen. To fully understand your organization’s current challenges and goals, you need a partner that listens and asks the right questions. For example, let’s explore AGS Health’s approach to client engagement:

  • AGS’s discovery and diagnostics process ensures we align with your organization because our experts engage in these early discussions.
  • AGS designs and activates a tailored solution for your organization after an in-depth analysis. We define the scope and requirements to build a plan forward that will help you achieve your organizational goals – a plan that aligns with your resources and is configured to your unique needs.
  • Once development is completed and approved, we collaborate with key stakeholders to implement the custom solution and work with you to adjust operating procedures as needed.
  • From there, we focus on optimization and continuous improvement. As your committed partner, our team provides continual performance updates and actionable insights to support your long-term growth goals.
  • Your revenue cycle management partner isn’t just your vendor. They should be your strategic partner.

Industry Aware and Customer Focused

The benefit of more closely aligning with vendor partners is to leverage their knowledge of what’s going on in the industry. Vendors can share insights based on their collective customer engagements and their knowledge about the organization’s goals. The two can then work together on scenario planning

“The insights and expertise we share drive critical discussions with our customers that allow us to collaborate and plan accordingly.”

“Our focus is to help healthcare organizations successfully manage the revenue cycle so they can not only contain but grow their revenue. We do this by optimizing their resources - people, processes, and technology, and sharing valuable insights about what we see in the healthcare sector. The insights and expertise we share drive critical discussions with our customers that allow us to collaborate and plan accordingly,” continued Cruver.

Sharing insights and perspectives about what’s going on in the healthcare sector, and understanding the healthcare organization’s goals, add depth to strategic conversations.

Scenario Planning

There is an ebb and flow to resource constraints, especially in healthcare. Having a partner that is part of discussions and can scale operations based on your needs is critical to preserving and optimizing resources. Easing pressures put on staff, especially as burnout numbers are high, is not only appreciated by staff, but it can help prevent turnover.

Additionally, when a vendor can help to equalize the workload, the opportunity to reassign staff to other tasks helps ensure mission-critical work is prioritized and completed.

“The real value-add for our clients is the diverse viewpoints we bring to the discussions based on what we are experiencing in the space. We’ve found this industry-aware, customer-focused approach ensures we are delivering tailored solutions that align with our clients’ unique needs, processes, and organizational structures, and positions them for success,” said Cruver.

Technology Enabled Support

As organizational needs change, it’s important to be aware of available technology and plan for it. Technology advancements that improve efficiencies, workflow, and outcomes, such as robotic process automation (RPA) and natural language processing (NLP), are transforming healthcare. The right vendor should provide access to the latest technology and help you shift the burden.

“Implementing new technologies and adjusting revenue cycle processes can feel intimidating when you consider upgrades, downtime, implementation planning, and staff training,” continued Cruver. “The right partner can completely mitigate those concerns, allowing the organization to focus on revenue-driven outcomes.”

Conclusion

A strategic vendor partner helps you plan and navigate, has expertise beyond that of your organization, and offers critical insights about the industry that help you build a path to organizational success. If you are ready to get started, AGS Health is prepared to help. Contact us today.

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AGS Health

Author

AGS Health is more than a revenue cycle management company—we’re a strategic partner for growth. Our distinctive methodology blends award-winning services with intelligent automation and high-touch customer support to deliver peak end-to-end revenue cycle performance and an empowering patient financial experience.

We employ a team of 12,000 highly trained and college-educated RCM experts who directly support more than 150 customers spanning a variety of care settings and specialties, including nearly 50% of the 20 most prominent U.S. hospitals and 40% of the nation’s 10 largest health systems. Our thoughtfully crafted RCM solutions deliver measurable revenue growth and retention, enabling customers to achieve the revenue to realize their vision.