The research highlights the top reasons CFOs are moving away from RCM point solutions in favor of holistic revenue management technologies.
DENVER, June 26, 2022 /PRNewswire/ — FinThrive, Inc., backed by Clearlake Capital Group, LP (together with certain subsidiaries, “Clearlake”), a provider of healthcare revenue management software (SaaS) with the most comprehensive endpoint solution in the sector. end-to-end platform, publish new research on its Autonomous Revenue Management Handbook, and participate in three conference sessions at the HFMA Annual Conference June 26-29.
The current state of healthcare has proven to be a costly problem for providers, payers and patients. Complementary solutions, from multiple vendors, only exacerbated the financial downfall, leading to recurring denials, underpayments, and high vendor management costs. A recent study sponsored by FinThrive found that 29% of healthcare system CFOs plan to invest in a single-vendor revenue management platform solution in the next 12 months; 36% intend to go to market within the next two years. The rise of revenue management platforms represents the most significant technology shift since the industry-wide adoption of the EHR (electronic health record) in 2015.
“Unpaid care has soared to $42.7 billion in 2020. This means that the current system is not working as well as it should,” said Hemant Goel, President and CEO, FinThrive. “FinThrive challenges the status quo, partnering with our customers to eliminate the inefficiencies of healthcare revenue cycles through technology breakthroughs. Our end-to-end platform is built on automation intelligent, integration and human-centric design to create frictionless workflows at all stages of revenue management.”
FinThrive will share new information about its Autonomous Revenue Management Handbook at the HFMA Annual, including the top reasons CFOs are moving away from revenue cycle management (RCM) point solutions to holistic revenue management. This unprecedented primary research will show how emerging technologies have the power to transform the healthcare industry. It was research that helped shape FinThrive’s own end-to-end revenue management platform solution.
FinThrive’s educational speaker sessions at HFMA Annual will cover the benefits of seamless payer-provider collaboration, offering insight into how to increase access to care, improve patient financial experience, and reduce costs for all. FinThrive will also showcase new strategies to prevent revenue leakage and lead a discussion on education and the important role it will play in driving the culture change needed to transform the healthcare economy.
The dates and times for FinThrive’s annual HFMA conferences are:
– Payer-provider collaboration: reinventing the relationship between payer, provider and patient. Speakers: Jamie DavisExecutive Director Revenue Cycle at Banner Health and John YountChief Innovation Officer at FinThrive. Monday, June 2710:50 a.m. – 11:40 a.m. MDTeducation rooms HFMA 405-407.
– Rapid fire session: the continued need for consumption in income cycles. Speaker: Mary Beth RozzellVice President of Sales Enablement at FinThrive. Tuesday, June 2812:40 p.m. – 1:40 p.m. MDTHFMA showroom.
– Revenue Cycle Resilience: Showcasing your best team and your best technology. Speakers: Jeff NeisenSenior Director of Billing and Accounts Receivable Management at SCL Health and Jonathan WiikVice President, Healthcare Insights at FinThrive. Wednesday, June 299:05 a.m. – 9:55 a.m. MDTeducation rooms HFMA 405-407.
Clients are welcome to visit FinThrive at Exhibit #113 to view its end-to-end revenue management platform. In-expo demonstrations and interactive technology will show how FinThrive’s market-leading revenue management platform will drive the industry forward and help reshape the future of healthcare.
“HFMA Annual couldn’t have come at a better time,” Goel said. “We have made rapid progress towards realizing our vision. Our team, some of whom you will hear from at the show, have helped us deliver the most comprehensive end-to-end revenue management platform in the industry. HFMA will testify to the work that is being accomplished across the FinThrive organization. We are excited to showcase our solutions and welcome you to FinThrive.
FinThrive advances healthcare economics. Our 1,600+ colleagues are rethinking revenue management to pave the way for a healthcare system that ensures every transaction and patient experience is handled holistically. We achieve technological breakthroughs by developing award-winning revenue management solutions that adapt to healthcare professionals, freeing providers and payers from complexity and inefficiency, so they can focus on their best work . Our end-to-end revenue management platform delivers a smarter, smoother revenue experience that increases revenue, reduces costs, expands collections, and ensures regulatory compliance. We delivered $8.8 billion in net income and cash to more than 3,245 customers worldwide. When financing health care becomes easy, the limits of what is possible in health care expand. For more information on our new vision for healthcare revenue management, visit finthrive.com.
audra murphyvice president, marketing
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