Healthcare Revenue Cycle Identified is a Strategic Driver in Framing the Patient Journey

·3 min read

New white paper from The Beryl Institute explores the impact of revenue cycle on overall patient experience

NASHVILLE, Tenn., Oct. 27, 2021 /PRNewswire-PRWeb/ -- The Beryl Institute, in collaboration with Healthcare Financial Management Association (HFMA), releases findings on how revenue cycle can and should contribute to the holistic patient experience. The Role of Revenue Cycle in Elevating the Human Experience in Healthcare explores how revenue cycle plays an integral role in a person's experience well before and after a clinical engagement.

The white paper reinforces the significant idea that if we are to ensure the best in experience, we must recognize and act to support every factor that impacts outcomes. Revenue cycle is far more than an operational function; it is a strategic driver that frames the patient journey, as it is typically the first impression and last touchpoint with a healthcare organization.

The white paper, sponsored by Health Prime International, shares insights from contributors across the U.S. on approaching revenue cycle in a way that shifts the mindset of consumers from billing and collections to one of support, advocacy and partnership.

Contributors reinforced a clear alignment regardless of organization size or focus, leader role or accountability and highlighted three key strategic considerations in leading forward:

  • Establish and build revenue cycles from a foundation of partnership, integral to developing trust and loyalty

  • Make the complex simple and accessible, ensuring transparency and easy access to information where and when patients want and need it

  • Commit to a focus on advocacy, bridging financial experience and patient experience

Now more than ever, people are asking questions about the price of healthcare," said Todd Nelson, Chief Partnership Executive, HFMA. "They are called on to make more decisions and pay more out-of-pocket for the services they receive. And they increasingly expect a financial experience that is on par with their other consumer experiences."

To access the executive brief and white paper, click here.

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About The Beryl Institute
The Beryl Institute is a global community of healthcare professionals and experience champions committed to transforming the human experience in healthcare. As a pioneer and leader of the experience movement and patient experience profession for more than a decade, the Institute offers unparalleled access to unbiased research and proven practices, networking and professional development opportunities and a safe, neutral space to exchange ideas and learn from others.

About Healthcare Financial Management Association
The Healthcare Financial Management Association (HFMA) equips its more than 75,000 members nationwide to navigate a complex healthcare landscape. Finance professionals in the full range of work settings, including hospitals, health systems, physician practices and health plans, trust HFMA to provide the guidance and tools to help them lead their organizations, and the industry, forward. HFMA is a not-for-profit, nonpartisan organization that advances healthcare by collaborating with other key stakeholders to address industry challenges and providing guidance, education, practical tools and solutions, and thought leadership. We lead the financial management of healthcare.

About the sponsor: Health Prime International
Health Prime International (Health Prime) increases profitability for large and mid-sized health systems and practices by leveraging modern technology and best-practice protocols to reduce costs and drive efficiency. Datalytics, Health Prime's proprietary business analytic platform, identifies and prevents revenue cycle break downs. Health Prime offers end-to-end revenue cycle management, virtual front office services, bilingual patient service center, credentialing, coding, virtual transcription, and more. Health Prime's mission is to support healthcare systems, so they can focus on what matters most, their patients.

Media Contact

Andrea Steiger, The Beryl Institute, 1.866.488.2379 x712, andrea.steiger@theberylinstitute.org

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SOURCE The Beryl Institute

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