The rapid progression of technology has made it more important than ever to have an efficient system in place for your claims and billing. Many healthcare organizations are upgrading their RCMs, and then they’re left to figure out what to do about their legacy AR.
If this is the case for you, then know that you’re not alone. Other organizations are going through the same thing and have the same questions as you. As you make the transition, it’s important to note that successful RCM conversion has less to do with the process itself and more about how you approach legacy AR during the process.
Wind Down Your Legacy Accounts Receivable ASAP
When you’re implementing a new system, you have to expect slowdowns at your organization. A new system means your staff has to learn new technology while attempting to maintain their workflow. This isn’t easy, so expect a few hiccups along the way.
Any kind of new technology can be tricky to get used to, but new technology on the job can be even more challenging. Recognize that it’s a learning curve that will slow things down, and understand that those who learn the system first will need to take the time to teach the rest of the team, interrupting workflow further.
At the same time, you have to think about new activity. Things don’t stop just because you’re changing technology — no, you’ll still be taking in new patients and handling their billing, which means you’ll have even more on your plate than usual.
One of the hardest parts of the RCM conversion process is that the legacy system does not disappear. Your staff must maintain both systems — but only until the old system is completely done away with. It’s a lot to keep track of, and it’s not easy to do. If your staff is stretched thin, then billing, claims, and collections are not getting the attention they deserve, which can affect all areas of your organization.
The most effective solution is to deal with your legacy AR as soon as possible. This way, you can shut down the old system and get everyone on the same page with the new system. The faster you wind down your legacy AR, the better your staff can perform their primary duties and ensure optimal outcomes at your organization.
Maintain Cash Flow with a Concrete Plan
If you focus your efforts on handling the legacy AR, you won’t even notice a dip in your cash flow. In fact, you should start to notice a boost in your revenue once your staff is comfortable with its implementation and it’s become your newest tool.
While it’s a major investment that can transform your organization and spell big success for everyone involved, switching to a new system is also incredibly stressful and overwhelming. We know that it may seem easier to keep or avoid your legacy AR, but doing so will cost you a lot of money in the long run.
Formulating a concrete plan to deal with it is critical to your organization’s success. As you plan, think about:
- How you’ll handle patient records
- Where the data will be stored
- What the timeline should be for fully moving onto the new system
It’s a big change, but one that will make an incredible difference for your staff, your patients, and your organization as a whole. To keep cash flowing even during the transition and ensure a smooth system transfer, it’s a good idea to partner with an AR outsourcing company who can support you throughout the process.
Take Action Today and Improve Your Revenue!
At Ultimate Billing, we know how overwhelming RCM can be. If you’re struggling to get a good grip on your AR, even after transitioning to a new system, schedule a consultation with our team. Our medical billing professionals can help you improve your revenue in no time so you can focus on running a thriving organization.