Combat Healthcare Labor Shortages With RCM Outsourcing
The healthcare industry is facing a substantial increase in labor shortages, particularly in the revenue cycle management (RCM) department. This shortage has affected internal RCM efficiency for many healthcare providers. RCM outsourcing is one of the most effective ways to combat the current healthcare labor shortages and enhance operations.
Causes and Effects of RCM Staffing Shortages
When you consider that 82% of healthcare organizations surveyed by Becker’s Hospital Review and PWC are short on revenue cycle staff, finding the source of the issue becomes vital. Some of the associated causes include:
- The increased demand for healthcare and the unchanged supply of trained RCM labor.
- Advancements in technology and the lack of appropriately skilled workers.
- RCM workers suffering from burnout due to an increased healthcare administrative burden.
The effects of these staffing shortages are far-reaching and include:
- Delays in patient care.
- Mistakes with patient billing.
- Prolonged wait times for customer service calls and appointment booking.
Outsourced RCM Solutions for Healthcare Labor Shortages
Automating your revenue cycle tasks through professional RCM outsourcing provides a solution for overcoming labor shortages and meeting increasing demands. When working with a seasoned RCM service, you can expect the following benefits:
- Comprehensive task automation: Healthcare outsourcing services can help you automate a broad spectrum of manual tasks, including eligibility verifications, front-end rejections, denial management and accounts receivables services.
- Automated data analytics: Automated services quickly deliver the data you need to make critical decisions regarding your revenue cycle, including claims, accounts and debts.
- Faster billing and collections: With your RCM automated, you will experience quicker verifications, claim submissions and payment collections while increasing customer satisfaction.
- Easier regulation compliance: Adhering to industry rules and regulations, such as the No Surprises Act, can be labor-intensive. Compliance is time- and cost-effective with a skilled RCM automation service by your side.
Optimize Your Operations With World-Class Outsourced RCM
You can continue to provide an efficient service despite the labor shortages affecting the healthcare industry when you partner with an experienced outsourcing service for your RCM needs. DME Service Solutions is an award-winning and HIPAA-compliant healthcare BPO service provider offering expert RCM services to businesses and organizations like yours.
Our team of professionals handles a host of front- and back-end RCM processes, providing an end-to-end service that allows you to focus on your business and customers. We leverage our expertise to identify potential RCM process improvements to minimize denials and expedite collections. Get in touch with our accomplished team today to discuss your RCM automation needs.
