As healthcare providers grapple with the rapidly changing landscape of accountable care, there is no better time to rethink the traditional approach to Revenue Cycle Management (RCM). Historically, RCM has been focused on increasing volume and maximizing revenue, but in the age of accountable care, providers must shift to a new approach that emphasizes value-based payment models.

At its core, accountable care is focused on providing better quality care at lower costs. As such, providers must be proactive in seeking out and implementing new processes and technologies that will improve their RCM performance. Automated tools and analytics are two of the most effective ways for providers to reduce costs and maximize revenue.

• Automated tools, such as revenue cycle analytics, allow providers to gain more insight into their billing and reimbursement processes, enabling them to identify and address any inefficiencies or bottlenecks. This, in turn, can help providers reduce their costs and maximize their revenue.
• Analytics also provide providers with greater insight into the overall performance of their RCM processes and can help them identify areas of improvement. By utilizing analytics, providers can gain a better understanding of the complex relationships between various RCM processes, as well as identify opportunities to streamline processes or improve coding accuracy.
• Finally, providers should also consider implementing a value-based payment model. Value-based payment models reward providers for the quality of care they provide, rather than simply the quantity of services they render. This, in turn, encourages providers to invest in new technologies and processes that will improve the quality of care they provide and improve the overall efficiency of their RCM processes.

In order to remain competitive in the age of accountable care, providers must be proactive in rethinking their traditional approach to RCM and implementing new technologies and processes. Automating tools and utilizing analytics can help providers gain greater insight into their billing and reimbursement processes, allowing them to reduce costs and maximize revenue. Additionally, investing in value-based payment models will reward providers for the quality of care they provide and encourage them to invest in new technologies and processes that will improve their overall efficiency. The time to act is now; providers who embrace change and invest in new technologies and processes will be well positioned to compete in the age of accountable care.