New research from the Orem, Utah-based KLAS indicates that provider pressures to meet meaningful use and ICD-10 regulatory requirements while also cutting costs have driven growth of the revenue cycle services (RCS) market. The report, Revenue Cycle Services: Which Firms Deliver Big Returns?, looks at the various reasons why more providers are outsourcing revenue cycle services, with bottom-line cash improvement and process improvement as the top benefits cited by providers.
"Providers are looking at every process in their revenue cycle," Mike Smith, VP of professional services research at KLAS, said in a statement. "Many are turning to third-party firms for extra help with everything from temporary project-based work to continual assistance with ongoing A/R follow-up or even full outsourcing of their revenue cycle department."
Accretive, Anthelio, Apollo Health Street, Cymetrix, Deloitte Consulting, Dell Services, FirstSource, Huron Consulting, MedAssets, PwC, and Xerox are the firms looked at in the report.
The Ohio State University Wexner Medical Center (OSUWMC) received the American Health Information Management Association (AHIMA) annual Grace Award in recognition of its leadership in health information management.