How to Unlock Hidden Insights in Your Government Agency’s Revenue Report October 16, 2023 / Blog Post Table of Contents For government agencies, a revenue report is not just a financial document. It’s a strategic tool to guide budgetary decisions, resource allocation, and long-term government planning—ultimately contributing to the overall efficiency of government operations. Despite … Read more
Hospital pharmacy revenue cycle management is more than easy payment processing and accurate reconciliation. It is critical for reporting patient prescription dispense as directed under legal, industry, and business compliance regulations. Last month, Robbie Niedergall, Senior Vice President, Sales; Pierre Dupuis, VP Strategic Accounts & Channels; and I met with hospital pharmacy professionals at HCP22 Spring … Read more
Customer expectations for payment experiences have evolved over time to become what is standard today – simple, fast, and secure. On the other hand, those tasked with generating revenue and maintaining compliance expect reconciliation, reporting, and applications to be secure, accurate, and modern. Despite information security and regulatory compliance leading payer and stakeholder trust requirements … Read more
Cash flow is the lifeblood of any organization. Accurate record-keeping on your end only goes so far because there may be errors on your bank’s end or extra fees or taxes that are more difficult to track and manage. Payment reconciliation can help make sense of your organization’s accounts payable and receivable operations. Here’s your … Read more
Revenue reporting helps government institutions like yours track, identify, collect, and manage incoming payments for services provided. Its purpose is to help your team gain thorough understanding of your organization’s revenue and financial status. But how does RCM provide valuable information to aid teams in making data-driven decisions? The answer lies in revenue cycle management … Read more
The manual processing of invoices is slow and manually-tasking: from the moment they arrive they need to be processed, coded and submitted for approval before being manually entered into the system-of-record or ERP system. Data entry errors are common and invoices easily misplaced or overlooked. It’s no surprise that invoice processing remains a manual process … Read more
Revenue cycle management (RCM) refers to an institution’s financial management process that helps track, identify, collect, and manage incoming payments. This helps businesses foster financial transparency within the company and charge patients the correct amount for the services and healthcare they receive. In healthcare, the definition of revenue cycle management remains the same. It is … Read more
Don’t forget to download the free guides, checklists, and assessments created as part of our government payment experience series: As we wrap our series on adding ease, convenience, and speed to government payments, creating a future-ready and customer-first payment experience, it’s clear that payment trends and constituent expectations are going digital, getting broader, and focused … Read more
Download our free constituent experience questionnaire > In today’s world, local governments are busy. They’re managing updates from the state, new constituent expectations, and likely wearing more than one hat with multiple job responsibilities falling on the same team. Finance teams within each local government are often processing payments for taxes, corrections, and the DMV. … Read more
The importance of patient financial responsibility in healthcare—and its significance to hospital revenue models—is unlikely to decrease, and may become even greater. Read more about the true cost of patient payment collections. It’s vital for healthcare facilities to implement more successful methods of collecting on patient self-pay accounts. Consider these four best practices for improving … Read more
