How Tech-Enabled RCM Solutions Can Help You Meet Your Year-End Goals

As year-end approaches, your healthcare organization likely faces significant pressure to meet financial targets and close revenue gaps. With 47% of rural hospitals operating at a loss in 2023, these pressures may be especially severe. Adding insult to injury, 2024 continues the trend of reduced reimbursements, workforce shortages, and operational inefficiencies. 

Many organizations like yours are implementing revenue cycle management (RCM) technologies to help them achieve a strong finish to the year. In a nutshell, using RCM solutions can improve financial performance by accelerating revenue capture (i.e. cash flow) and boosting operational efficiency. 

Specifically, RCM automation, in tandem with artificial intelligence (AI), helps reduce payer denials by identifying errors in claims prior to submission. Besides speeding up reimbursement, this technology can minimize the need for time-consuming and costly reworks.  These and other benefits are well documented in insights from the American Hospital Association. 

The case for RCM automation is also reflected in a report from Bain & Company; it reveals that 73% of healthcare leaders, particularly those in midsized hospitals, place a high priority on investing in RCM technology. Compared with their larger peers, these organizations have tighter margins and fewer resources — amplifying the benefits of using automation and advanced analytics to lighten manual workloads and improve overall financial health. 

But technology alone won’t solve these formidable challenges. You also need a skilled team to interpret data, identify trends, and make timely decisions to address inefficiencies. The combination of proven RCM technology and highly capable staff will equip you to overcome mounting financial challenges and meet your year-end targets. 

With year-end looming, now is the time to get in touch with TruBridge. Through our RCM solutions, you’ll take an important first step in strengthening your revenue cycle performance — including reduced claim denials, faster reimbursement, and more efficient billing workflows — at a time when it matters most.