Meduit is one of the nation’s leading revenue cycle solutions companies with decades of experience in the RCM arena, serving more than 1,100 hospital and physician practices in 48 states. Meduit combines a state-of-the-art accounts receivable management model with advanced technologies and an experienced people-focused team that takes a compassionate and supportive approach to working with patients. Meduit significantly improves financial, operational and clinical performance, ensuring that healthcare organizations can dedicate their resources to providing more quality healthcare services to more patients. For more information, please visit www.meduitrcm.com.

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Meduit’s Net Promoter score, which measures customer satisfaction, was higher than Google’s and Apple’s!

Hospitals and health systems face unprecedented RCM challenges as they try to optimize patient care while maintaining financial stability. The primary issue is that there’s more revenue cycle work than ever before and not enough skilled RCM workers available to do it.

In each edition of Cycle Up, we sit down with one of the leading voices on the Meduit team. In this issue, we’re talking with Stephanie Higdon, Chief Customer Success Officer, about the unprecedented RCM challenges facing hospitals and healthcare systems today and how Meduit is helping customers navigate the changing industry landscape.

As hospitals and health systems strive to provide an outstanding patient experience while also navigating revenue cycle challenges, conversational AI is emerging as a game-changing technology that helps in both areas. 

Legislative sessions are active nationwide on both the federal and state levels, and the collection industry is once again a hot topic within newly introduced bills. Many of these bills focus on healthcare and the collection of medical debt; therefore, Meduit’s team is closely following the progression of these bills. We know the negative impact some bills could have on the future of collections, and while we cannot control the outcome, we are doing more than just watching from the sidelines.

As we sit just beyond the midpoint of 2024, the technological transformation of healthcare RCM is still top of mind. Today, artificial intelligence is working 24/7/365 on everything from coding and billing to walking patients through a completely automated payment process. Predictive analytics are helping organizations target high-probability patient accounts to accelerate cash flow while also flagging insurance claims that are likely to be denied. As you’ll read in this edition of Cycle Up, Meduit is leading the way in introducing conversational AI to healthcare RCM, a technology that enhances efficiency and improves patient engagement and satisfaction.

Last year was an important transitional year for healthcare. The COVID-19 federal health emergency ended, and along with it, government programs such as the Coronavirus Aid, Relief and Economic Security (CARES) Act that helped mitigate the economic burden on hospitals and providers.

As we step into 2024, regulatory agencies and legislators are pushing out numerous rule proposals and bill introductions for consideration. It is not surprising that medical debt and collections are a key area of discussion with focus on items such as Artificial intelligence (AI); Privacy / PHI data storage; pre-recorded messaging; and digital content, including text messaging, emails, and chats.