Meduit growth indicative of broader healthcare revenue cycle trends

Revenue cycle management (RCM) leader Meduit is experiencing accelerated growth during the first part of 2019, primarily driven by contracts with large hospitals and health systems, which spotlights a broader trend in hospital revenue cycle management.

“A Black Book survey revealed 80 percent of hospital leaders were vetting or considering outsourcing full revenue cycle management by 2019,” according to a recent report in Becker’s Hospital Review.  “The survey also highlighted the increasing demand for revenue cycle outsourcing — 18 percent of hospitals implemented a full RCM outsourcing project in 2018, compared to 11 percent three years prior.” ¹

Meduit CEO Jeff Nieman said that the Meduit team is seeing the trend come to life not only in the many conversations they are having with hospital and health system decision-makers across the country, but they are seeing it in new large revenue cycle contracts this year.

“Hospital margin compression, the complexities and uncertainties of alternative payment models and increased regulatory requirements are motivating more larger hospitals to seek effective turnkey RCM solutions,” Nieman said.  “Just in the first quarter of 2019, we saw a substantial uptick in the number of big hospitals and systems talking with us about partnership solutions built around their revenue cycle systems.”

“We’re excited to see this macro trend playing out in big healthcare systems migrating their RCM needs to Meduit,” Nieman added. “It’s a ‘right place with the right solutions at the right time’ situation because we have the inhouse expertise and cutting-edge technology and programs to maximize hospital revenues and proactively manage their accounts receivable.”

Of the increased activity Meduit has been experiencing, Nieman highlighted three major contracts representing 15% annualized growth:

• A large national health system with over 40 hospitals;
• A 14-hospital network that serves the upper Midwest;
• A large regional healthcare organization serving a 6,000-square-mile area of Arizona.

Larger hospitals are increasingly discussing the full spectrum of revenue cycle solutions.  For Meduit, that means a full range of revenue cycle solutions that achieve cash acceleration for thousands of providers across the United States, which includes:

• MedEBO: Extended Business Office that targets increasing cash flow and resolving accounts receivable before they are written off to bad debt. Covers insurance balances from any payor and collecting self-pay and self-pay after insurance.
• MedEZPay: Dedicated patient payment solutions for MedEBO clients.
• MedCap: Conversion Assistance Program that supports a healthcare organization’s move into a new system environment with a steady flow from existing legacy accounts receivable.
• MedCollect: State-of-the-art collection services to hospitals and large physician organizations.
• MedConsult: Insight into best practices for revenue cycle management and solutions.
• MedSpan: Claim denials data analytics and process solutions to manage denied claim processes.
• Worker’s Comp: Ensures that workers’ compensation claims are collected accurately and timely.
• MedAccuPay™: Identifies and recovers unpaid and underpaid balances from closed patient accounts from all types of payors, including government, commercial, and self-funded.

For more information on Meduit’s revenue cycle solutions, visit: Meduitrcm.com.

¹ Becker’s Hospital Review, “Hospital revenue cycle trends to watch in 2019 — 8 thoughts,” March 21, 2019.  https://www.beckershospitalreview.com/finance/hospital-revenue-cycle-trends-to-watch-in-2019-8-thoughts.html