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Successfully Implementing a Revenue Cycle Self-Pay Solution

Executive Summary:

Achieving a high return on investment for the implementation of a self-pay solution is always the primary objective, but such success depends on effective preparation, organizational commitment and process improvement. Other critical elements that impact the success of implementation include buy-in from the C-suite, an understanding of in-depth gap analysis and research, and an effective change management plan that includes consistent, cross-functional, and departmental training. Moreover, a revenue cycle self pay solution can remain an integral part of a hospital's financial administration department only as long as the organization constantly measures its performance against objectives and previous performance—and sets ongoing improvement targets. The commitment needed to meet all of these requirements for success is exactly the level of commitment that a hospital must always have to continue performing at the highest level in the midst of challenging new rules and regulations and other industry-driven changes in the healthcare environment.