In today’s healthcare landscape, hospitals must optimize revenue cycle management and improve financial performance. Benchmarking and strategic KPIs are crucial for driving transformation in revenue cycle processes. Hospitals can achieve notable improvements in their revenue cycle by focusing on metrics, adopting best practices, optimizing processes, integrating technology, educating staff, and considering outsourcing and AI solutions. Identifying Key Metrics To initiate the transformation process, hospitals must identify the key metrics that significantly impact the revenue cycle. These metrics typically include denial resolution rate, collection rate, average reimbursement turnaround time, clean claim submission rate, and accounts receivable days outstanding.

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