While technical advances in medicine are helping to save lives, tech advances in medical revenue recovery are helping to save hospitals. Here are two ways that improvements in the medical IT field have helped medical providers stay afloat in an ever-competitive healthcare environment.
Outsourced Revenue Recovery
From chargemaster software to collections agencies, outsourcing the recovery of revenue from patients with overdue balances is a crucial role to play in the life cycle of medical care. While healthcare is typically viewed as a non-profit and humanitarian occupation, the fact of the matter is medical care requires substantial amounts of money. In order to offset the cost of treating those who cannot afford emergency medical care, it is essential to retrieve money from patients who are able to pay their bills without major issues. Since this isn’t a role that a hospital physician can feasibly play with a busy schedule, hospital billing