Operating an organization in a highly regulated industry such as healthcare comes with many challenges. Accurate claim information, securing reimbursement, and collections are critical for profitability but can be difficult to obtain. And it’s getting more challenging than ever for providers: a recent survey found that 89% had an increase in denials over the past three years. Furthermore, 51% even stated that the rise was "significant."
That is why forward-looking healthcare companies are looking to harness the potential of data to help them overcome these hurdles. Data is used in almost every area of healthcare operations, such as customer service and diagnostics, but revenue cycle management (RCM) offers businesses the most immediate and measurable impact.
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