The Beryl Institute: The role of revenue cycle in elevating the human experience in healthcare

Summary

In collaboration with Healthcare Financial Management Association (HFMA), this paper explores the linkage of revenue cycle to patient experience. From a consumer perspective, revenue cycle is no longer viewed as the process that accompanies patients through their healthcare journey. Rather, its components are equal in importance to the touchpoints patients are having in their clinical care, serving as first and last impressions that have great influence on consumer decision-making about which organization to choose for healthcare.

Content

Key takeaway messages

• Establish and build from a foundation of partnership Every touchpoint matters, and the role everyone plays either in capturing information and providing critical data to delivering or supporting care are integral to the overall experience people have, the trust they develop and the loyalty that is fostered. Make the complex simple AND accessible
• Ensuring transparency, better self-service options and easy access to information where and in ways patients want and need it will be critical to reinforcing revenue cycle as a contributor to a better experience.
• Commit to a focus on advocacy Reframing the revenue cycle mindset from one focused on collections to one offering financial services based on a partnership will shift consumer view about the role of revenue cycle teams from adversary to advocate.

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