The COVID-19 pandemic presents unprecedented financial challenges to the healthcare industry. It poses a substantial burden on an industry already struggling with multi-faceted challenges – changing patient expectations, shifts in financial responsibility, increasing ecosystem complexity, and growing demands for robust health infrastructure.
All key industry players- Hospitals, Physician groups, Health Plans and Health Services- must prepare for a series of financial challenges to not only ensure liquidity, but also drive profitability under high volatility and uncertainty. The answer lies in reinventing operations and reimagining business models to become more productive and flexible.
This paper highlights the challenges confronting Providers in the post-pandemic era, and offers insights into how Intelligent Automation can help create a flexible and agile Revenue Cycle Management (RCM) function. The result? The ability to address emerging shifts in patient preferences and drive financial stability and growth –all while ensuring security and regulatory compliance.