Collector - October 2017 - 25
A New B
How big data improves the
healthcare revenue cycle.
By Brady Dolan
ig data is driving change in all
sectors of the economy, but
healthcare systems may have the
greatest potential for transformation when
it comes to improving the revenue cycle.
Many health organizations are already
analyzing multiple metrics and comparing
them with other providers, but the industry
as a whole has a lot of remaining challenges
that need to be addressed. Private payers
and the Centers for Medicare and Medicaid
Services are currently doing everything they
can to maximize efficiency and reduce costs,
and it's imperative that providers do the
same to compete.
While big data affects all aspects of
healthcare, the revenue cycle in particular
benefits because it's made up of quantifiable
pieces on existing networks, making the
collection, tracking and analysis of relevant
"Data gives hospitals the ability to
look at processes over time and identify
breakdowns, including systemic issues that
affect specific revenue cycle processes,"
said Margaret Schuler, OhioHealth's vice
president of revenue cycle, in a Healthcare
Financial Management Association report.