2021 Revenue Cycle – What to Expect?
Ryan Sommers • Jan 27, 2021
As 2021 is now underway, here’s what you can expect from healthcare-centric revenue cycle projects. Budgets and spending may continue to get trimmed throughout the year to offset the financial difficulties and lower margins COVID has brought, but IT and RCM technology projects will be mostly untouched, and may even get bumped-up in priority.
1. A greater emphasis on projects seeking to maximize technology already on-hand.
2. Virtual factors remain priority number one to offset revenue challenges
3. Initiatives focused on improving the patient experience.
4. Automation wherever possible in order to reduce labor & workforce burdens, and gain organizational efficiency.
81 percent of healthcare CFOs and senior leaders indicate there is an absolute and immediate need for technology to be implemented and optimized, in order to ensure the long-term survival of their organization.
With all of the above in mind for 2021, there’s no doubt we’ll “see” each other out there working in the Revenue Cycle space.