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Business intelligence can improve performance across multiple areas of a healthcare business. In this article I will focus on revenue cycle management. While the cost of delivering care continues to rise, getting reimbursement from patients and insurance companies is increasingly difficult for doctors and hospitals. Complex coding and billing requirements, combined with the reluctance of patients to pay their portion of healthcare costs is increasing the number of days before receiving payment on accounts and decreasing margins. BI can help ensure accurate claims submissions, improve payment collection processes, accelerate cash flow and increase profitability.
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Source: Dashboard Insight