Choosing a revenue cycle vendor? Gut instinct alone won't do
After Mike Simms, vice president of revenue cycle for Greensboro, N.C.-based Cone Health, signed on with one RCM vendor, he quickly found himself wishing he'd followed his hunch the first time around.
[See also: Revenue cycle headed for a 'new world']
Unhappy with the product he'd picked, Simms soon changed courses, opting instead to go with his initial instinct: a small, cloud-based vendor called Patientco.
"We went back to Patientco because we had a gut feeling about them," Simms tells Healthcare Finance News Managing Editor Henry Powderly.
Cone Health isn't the only one that's been happier since that rethinking, he adds: Its patients have been pleased with their billing experiences, too.
Simms will be at HIMSS15 in Chicago on April 12, speaking at the the HIMSS Media Revenue Cycle Summit. He'll offer tips on vetting potential vendors and strategies for realizing ROI from RCM tools.
A hospital can’t select vendors based on gut feeling alone, of course. Simms says networking is a critical tool for finding partners. (He first heard about Patientco on LinkedIn, for instance.) He also recommends joining organizations for hospital finance pros and talking frequently with other managers about revenue cycle.
Read more of his advice at Healthcare Finance News.