For more than a dozen years, AGS Health has developed operational expertise in revenue cycle management (RCM) by serving some of our nation’s largest hospitals, health systems, and physicians groups. As the industry evolved and technology advanced, we invested wisely in ways that would best meet the changing needs of healthcare organizations.
Our technology investments, such as the AGS AI Platform, greatly benefit our customers; however, it’s our team’s collective revenue cycle expertise and deep understanding of the complexity of the healthcare revenue cycle that solidifies our position as the right RCM partner for our clients.
In this blog post, we’ll discuss why a strong background in RCM Services is essential when identifying a revenue cycle vendor partner.
Benefits of Having a Service Foundation
To deliver the best customer outcomes, your revenue cycle vendor needs to know when, where, and how our various technologies should be implemented in the revenue cycle. This is a very critical point for several reasons:
- No two healthcare revenue cycles are the same. The use of technology should be approached skillfully and after much discussion. You can’t take the same tech platform and implement it into every healthcare organization and expect similar results. It just doesn’t work that way.
- Technology can be disruptive when not carefully considered and implemented. AGS AI Platform is flexible and modular – it allows for progressive implementation. This means our customers avoid major disruptions to their operations and can progress on their automation journey at a manageable pace.
- The revenue cycle is a web of interconnected processes that can be easily disrupted. Each time you implement a new solution or technology, both expected and unexpected changes will occur in other parts of the revenue cycle. Taking a gradual, systematic approach allows more traceability and analysis, which is critical to minimize disruptions.
- Even the most advanced AI today is still imperfect. You need experts who can train the AI and intervene in highly complex claims. Tech-only providers don’t offer the service or the expertise to support healthcare customers’ revenue cycles 100%. But we do. The AGS team isn’t made up of technologists that see profitable tech applications in the healthcare space. We are healthcare revenue cycle experts with proficiency in AI, which has allowed us to build a flexible AI platform for our customers.
The Growing Need to Optimize the Revenue Cycle
In a recent Becker's Hospital Review article , Erik Swanson, senior vice president of data and analytics at Kaufman Hall stated, "While we have seen a stabilization in operating margins over the past several months, the trendline continues to show that hospitals will be in a tough spot financially for the foreseeable future. With future COVID surges possible and challenging financial months ahead for hospitals, managing cash on hand will be critical to weathering the storm." Swanson was referencing Kaufman Hall's latest “National Flash Hospital Report” which was based on data from more than 900 hospitals.
If you are a healthcare organization and are seeking ways to grow and contain revenue, look to your revenue cycle and partner with an organization with the right RCM expertise and technology offering.
At AGS Health, our organization-wide understanding of RCM has been built and strengthened with every client engagement for more than a dozen years. Our operational knowledge of the complexities of the revenue cycle, combined with our expertise in AI, makes us a revenue cycle powerhouse.
We offer strategic guidance for how best to leverage technology based on how your organization has operationalized its revenue cycle, your unique needs, and your desired outcomes.
If your organization is looking for a strategic growth partner that can help you take your RCM to the next level, connect with us today!
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