News Headlines Article

Cost Containment Starts with Cost Clarity
Healthleaders Media

Cost containment and revenue cycle activities help shape a healthcare organization’s financial viability, driving down costs through thrifty spending and process improvements on one hand, and maximizing revenues by ensuring that funds owed are actually received using sensible practices and IT-based capabilities on the other. While cost containment has traditionally focused on purchasing and supply chain efficiencies, an increasingly productive and sustainable strategy involves process redesign. Revenue cycle has remained relatively consistent in its focus on minimizing denials and improving clinical documentation, but a growing number of organizations are looking to leverage IT in new ways.