managed services providers

Managed Service Providers (MSP) and HC Revenue Cycle Improvements

For many healthcare delivery organizations, working with a Managed Service Provider (MSP) for specific IT, workflow and data management needs is an important part of their infrastructure. MSPs come in many different shapes and sizes and can range from remote support for software as a service (SaaS) to the outsourcing of data aggregation processes. These business relationships can often transpire as part of prior outsourced assignments that lead to long-term, strategic goals. MSPs can also provide Consulting Services that range from discovering inefficiencies in a single department to implementing an enterprise-wide solution.

A likely candidate for an MSP in healthcare is with revenue cycle management. RCM processes are typically improved with data capture, workflow automation technology and systems integration. Having the ability to integrate data between departments and other solution partners is a key element toward exceeding revenue cycle benchmarks, such as Initial Denial Rate and Days in AR.

Enterprise Content Management (ECM), combined with business processes automation (BPA), is another example of how MSPs can be utilized for improving back-office processes. Especially those that are document-driven, such as AP and Customer Service.

Other popular areas for contracting with an MSP is in billing, credentialing, coding, contracting, compliance and Systems Management. Look for an MSP that specializes in your specific business process and data aggregation needs.

About RCMS

RCMS Revenue Cycle Management Improvement Strategies are a blend of Business Management Consulting, Workflow Automation technology and Systems Integration for just about any type of healthcare business office need. Contact RCMS about improving processes for your organization and if a managed service contract is of interest to your organization.