In any merger or acquisition, the resultant revenue cycle enterprise must be aligned to support the newly formed organization’s strategy. To achieve rapid transformational change, a well-developed approach offers organizations an opportunity to build a next-generation revenue cycle that benefits the new entity and the community at large.
An empowered revenue cycle integration team (RCIT) that defines and implements aggressive revenue realization initiatives across the revenue cycle should also foster engagement by building a culture of mutual and shared accountability. Enterprise-wide key performance indicators (KPIs) promote and ensure accountability for realizing benefits of the newly combined entities.
“Even in situations where there is an existing high-performing revenue cycle, the integration of a new entity into those processes provides an opportunity for purposeful revenue and patient experience efficacy.”