Solutions
Gain Revenue Cycle Management Strength
SITUATION
Healthcare executives are under pressure from shrinking margins, inefficiencies, and workforce challenges. In this environment, revenue cycle management is shifting from a back-office expense to a strategic driver of financial strength and longterm sustainability.
Yet for many hospitals, tracking and collecting thirdparty payments remains costly, labor-intensive, and frustrating. Smaller facilities are especially vulnerable, often lacking the advanced tools and resources needed to optimize their revenue cycle. These limitations compound existing financial strain from low insurance reimbursements, reduced patient volumes, and cuts in Medicaid payments.
Without a robust revenue cycle process, hospitals face greater risk of financial setbacks. A 2024 report by the Center for Healthcare Quality and Payment Reform found that insurer claim denials contributed to the instability of more than 700 rural hospitals and other healthcare facilities already considered at risk of closure.
Addressing these challenges requires innovative solutions that can expedite payments, minimize costs, and strengthen the financial resilience of rural and community hospitals in today’s demanding healthcare environment.
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3-5% of net patient revenue is lost annually due to revenue cycle inefficiencies.
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75% of hospitals identify payer processes as a top administrative burden.
CHALLENGES
Many rural hospitals’ revenue cycle processes face various challenges, including:
- Difficulty recruiting and retaining qualified employees.
- Limited expertise in preparing and submitting clean insurance claims.
- Minimal or outdated technology to maximize third-party payment collections.
- Insufficient reporting, trending, and tracking of insurance claim denials.
- Limited ability to validate payments or model payer contracts accurately.
SOLUTION
For more than 20 years, CHC Consulting, the consulting arm of Community Hospital Corporation (CHC), has helped hospitals enhance their complex revenue cycle processes, guiding them toward best practices and technology options that have increased net revenue, accelerated cash collection, and reduced costs.
CHC Consulting’s Options RCM offers state-of-the-art technology and experienced, 100% on-shore personnel to support a provider’s goal of cost-effective, comprehensive revenue cycle management.
Unlike other providers who require hospitals to outsource their entire revenue cycle, Options RCM provides a flexible solution for revenue cycle management. That means clients can choose a tailored solution that addresses their specific area(s) of need and integrates with their existing system, or they can use the full range of services as a comprehensive outsourcing solution.
“Options RCM is designed to actively assist or completely manage a facility’s accounts receivable process,” said David Yackell, CHC’s Vice President of Hospital Financial Operations. “It offers more tools through technology bundles, so hospitals can automate more for a lower cost. Our experienced team identifies specific revenue cycle pain points and provides tailored solutions. Hospitals with limited staff and inadequate technology will significantly benefit from utilizing this new service.”
Get the personnel and technology your hospital needs across the entire revenue cycle. Options RCM provides technology and tools in areas susceptible to inaccuracies and delays that can directly impact a hospital’s financial position. Options RCM provides each hospital support with the services and technology of the client’s choosing. Improve Financial Resiliency with Options RCM CHC Consulting’s Options RCM enables hospitals and other healthcare facilities to improve their revenue cycle processes, a crucial step in strengthening a facility’s financial health.
