The success of any Revenue Cycle Management process depends upon collections. Every technology and process in the revenue cycle, is focused on increasing revenue. Amongst the many factors that can measure and reflect the health of the AR, one is the First Pass Resolution Rate (FPRR).
Managing the Revenue Cycle, is a challenging process with high intricacy and nuances in every stage. It is an art by itself and like every art, it reflects the talent of the artist a.k.a. the coders and billers. When choosing an outsourcing partner, you are not just choosing a reputed company, but also choosing a team of people who will run your business for you.
Every business, small or big can achieve an enormous benefit when taken the right advantage of automation of their business processes. Though it does not seem to be a very affordable technology that all businesses can invest in, a business can still enjoy the benefits of RPA and AI by implementing the same in some parts of their Revenue Cycle Management.