Benefits of Establishing Meaningful Work Standards for Revenue Cycle Staff

hfm Magazine

Healthcare executives frequently are asked to innovate by challenging the status quo. Although the industry is rife with opportunity to look forward, revenue cycle leaders also can benefit from looking at past realities and the lessons they embody. It may seem like a stretch to compare revenue cycle operations to the centuries-old factory environment, but management science used in assembly line production shares several key concepts with the healthcare revenue cycle that finance executives should appreciate: increased efficiency, decreased product variation, and consistent production.