How to Optimize Vendor Relationships for a More Successful Post-Pandemic Revenue Cycle Recovery

by | Aug 20, 2021

Medical billing and insurance-related processes cost our nation’s healthcare system an estimated $471 billion a year. The problem can be especially challenging for large not-for-profit health systems with multiple locations, a larger patient population, and a broader payer mix. While partnering with revenue cycle vendors is a great way to alleviate some of that burden, serious issues can come into play within those partnerships—issues many large health systems may overlook. These include subpar collection rates, noncompliance with SLAs or regulatory requirements, and vendor contracts that are well outside of industry standards.