CFO's of hospitals of every size have to contend with the ever changing landscape of technology. Where the business of managing a successful, cutting-edge facility is concerned, being behind the times in data and record keeping can negatively impact the bottom line, often pushing facilities to the brink of insolvency.
It becomes a constant question and struggle - what programs and protocols need to be implemented? What is the ROI? How long will these processes be adequate before adapting even more new technology?
The bottom line is that incorporating new programs to streamline patient information and payment processes will increase revenue. For struggling hospitals, there is no question that an investment in RCM technology is the key to patient payment solutions.