By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Health Works CollectiveHealth Works CollectiveHealth Works Collective
  • Health
    • Mental Health
    Health
    Healthcare organizations are operating on slimmer profit margins than ever. One report in August showed that they are even lower than the beginning of the…
    Show More
    Top News
    HIPPA compliance
    How Medical Office Staff Can Make Your Practice HIPAA Compliant
    October 29, 2021
    Everything you need to know about hyaluronic acid treatment
    Everything you need to know about hyaluronic acid treatment
    February 10, 2022
    Which Mushroom Capsules Are Good for Your Health?
    May 5, 2022
    Latest News
    Why Custom Telemedicine Apps Outperform Off‑the‑Shelf Solutions
    July 20, 2025
    How Probate Planning Shapes the Future of Your Estate and Family Care
    July 17, 2025
    Beyond Nutrition: Everyday Foods That Support Whole-Body Health
    June 15, 2025
    The Wide-Ranging Benefits of Magnesium Supplements
    June 11, 2025
  • Policy and Law
    • Global Healthcare
    • Medical Ethics
    Policy and Law
    Get the latest updates about Insurance policies and Laws in the Healthcare industry for different geographical locations.
    Show More
    Top News
    Image
    Healthcare Pricing Transparency Gains Momentum
    June 24, 2013
    non-clinical care factors in health outcomes
    Addressing Non-Clinical Care Factors in Health Outcomes
    November 15, 2013
    e interventions
    Healthcare Progress Depends On “E Interventions”
    July 10, 2014
    Latest News
    How IT and Marketing Teams Can Collaborate to Protect Patient Trust
    July 17, 2025
    How Health Choices and Legal Actions Intersect After an Injury
    July 17, 2025
    How communities and healthcare providers can address slip and fall injuries with legal awareness
    July 17, 2025
    Let Your Lawyer Handle the Work Before You Pay Medical Costs
    July 6, 2025
  • Medical Innovations
  • News
  • Wellness
  • Tech
Search
© 2023 HealthWorks Collective. All Rights Reserved.
Reading: Next-Generation Revenue Cycle
Share
Notification Show More
Font ResizerAa
Health Works CollectiveHealth Works Collective
Font ResizerAa
Search
Follow US
  • About
  • Contact
  • Privacy
© 2023 HealthWorks Collective. All Rights Reserved.
Health Works Collective > Business > Finance > Next-Generation Revenue Cycle
BusinessFinanceHospital Administration

Next-Generation Revenue Cycle

Andy Salmen
Andy Salmen
Share
4 Min Read
SHARE

revenue cycle healthcareWith the increasing adoption and implementation of the Patient Protection and Affordable Care Act and its various components, the financial reimbursement picture is drastically changing. We now have an increased emphasis on value-based reimbursement, risk sharing and bundled payments instead of just volume-based reimbursement.

revenue cycle healthcareWith the increasing adoption and implementation of the Patient Protection and Affordable Care Act and its various components, the financial reimbursement picture is drastically changing. We now have an increased emphasis on value-based reimbursement, risk sharing and bundled payments instead of just volume-based reimbursement. In addition, there is now an increase in the patient portion of reimbursement that needs to be taken into account.

Many healthcare leaders would agree that improvements to revenue cycle management systems can help healthcare providers tackle new and changing market realities. However, deciding which changes are best for the long-term can keep these same leaders up all night. One such change is the switch from legacy revenue cycle systems to next generation revenue cycle systems. But, as healthcare journalist Rodney Moore reports in a recent article, providers need to think before making the jump into new management technology.

Most healthcare providers have been struggling with wholesale challenges, such as a weak economy and reform and regulatory changes that have changed how they are able to do business. Additionally, providers have been forced to rethink financial strategies in order to integrate with emerging trends that include the shift towards consumer-directed health care, pay-for-performance programs, and the increase of patient payments.

Next-generation revenue cycle systems offer greater flexibility and are more consumer-directed than traditional revenue cycle management systems. The following are a couple of the more popular features of next-generation management systems:

  • Clinical and Financial Integration. Often, health care in older systems is provided without any understanding of payer responsibility or reimbursement. However, with an integrated clinical and financial system, providers can make care decisions with a better understanding of the patient financial impact. This means working with patients to make payment plans work, or developing alternative treatment plans that both provide the necessary care and are affordable for the patient.
  • Real-time Information. Old revenue management systems often generate outdated reports that lack accurate coverage information. Being able to access real-time information with the click of a mouse enables providers to intervene immediately to facilitate problems that might arise such as the sudden change in insurance reimbursement plans. 

However, simply buying new technology might not be the best quick fix solution for a healthcare provider struggling to survive in the marketplace.

While the overall scope of revenue solutions is continually changing to adapt to this new emerging environment, such a change is gradual. For obvious reasons, healthcare providers can be reluctant to undergo an immediate conversion simply due to the scope and financial commitment such new adoption projects require. It can be smart to start small, tackling one project at a time. For many providers, this means focusing on finding ways to meet EHR meaningful use requirements, before going on to readjust their revenue cycle management in a more significant way.

Image via svilen001

Share This Article
Facebook Copy Link Print
Share

Stay Connected

1.5kFollowersLike
4.5kFollowersFollow
2.8kFollowersPin
136kSubscribersSubscribe

Latest News

botox certification
Help Improve People’s Skin Health Via Botox Certification
Skin Specialties
July 22, 2025
Telemedicine Apps
Why Custom Telemedicine Apps Outperform Off‑the‑Shelf Solutions
Health
July 20, 2025
Grounded Healing: A Natural Ally for Sustainable Healthcare Systems
How IT and Marketing Teams Can Collaborate to Protect Patient Trust
Global Healthcare Policy & Law
July 17, 2025
paramedics in surgical gloves and masks
How Health Choices and Legal Actions Intersect After an Injury
Health care
July 16, 2025

You Might also Like

HIPAA and doctor communication
Hospital AdministrationMobile Health

Physicians Love to Text, Too

February 20, 2014

The Ultimate Guide for Finding and Editing Images for Your Medical Website

April 5, 2014
narrow networks
BusinessHealth ReformPolicy & Law

Narrow Networks: Get Used to It

August 1, 2014

Hospital Robot Disinfects Rooms

January 5, 2012
Subscribe
Subscribe to our newsletter to get our newest articles instantly!
Follow US
© 2008-2025 HealthWorks Collective. All Rights Reserved.
  • About
  • Contact
  • Privacy
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?