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Trubridge Inc.
Trubridge Inc.
07/08/2024 | Press release | Archived content
Proactive Decision Making in Revenue Cycle Management with Data Analytics and Business Intelligence Tools
Making well-informed decisions is very important in the healthcare space, especially for areas that are necessary for your organization to function, like revenue cycle management (RCM). The best way to make sure that we have all of the information we need to make the best possible decisions is through data analytics and business intelligence tools. To get more insights on how these tools impact RCM, we reached out to our talented Healthcare IT Today Community to ask them - how does the integration of data analytics and business intelligence tools contribute to proactive decision-making in revenue cycle management, and what key performance indicators are being monitored to assess financial health? The following is what they had to share.
Data analytics are integral to successful revenue cycle management for a healthcare organization of any size. Health systems need accurate, custom insights into a variety of factors including payer behavior, deep denial reasons and root cause analysis, trends and outliers within the receivable, and quality and performance metrics of your team's work. These data points are not typically in one clean location; therefore, having a powerful, modern data platform makes these insights more accessible and achievable. The ideal platform builds the right patterns so health systems can use this technology to stay on top of their revenue cycle, predicting what will happen before it does.
Wes Cronkite
Chief Technology and Innovation Officer, TruBridge