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It’s time for another one of my rants. This is a quote from a revenue cycle management company, “Achieve a faster, more effective revenue cycle.” Can’t you say, “You’ll collect more” or “You’ll make more money,” or “Your revenue will increase”? Isn’t that what people want? Or are they just too afraid to commit to it? Or maybe, their attorneys won’t let them say anything worthwhile. What does that mean, “Achieve a faster, more effective revenue cycle”? Effective at what? Well, at collecting money. So one more time, can’t we be direct?
Don’t forget revenue cycle management
Here’s another quote from the same company, “Missed revenue opportunities are alarmingly commonplace in the business of health care. Doctors in the United States leave approximately $125 billion on the table each year due to poor practices in medical billing. Effective revenue cycle management (RCM) requires a combination of strategies – advanced technology and support from an expert professional team.” That implies improvement. It doesn’t say it, much less commit to it.
Facts vs. guessing
Here’s what I see even more bewildering to me. They go on to put a series of facts. It’s a fact. First of all, this should be dramatic. Fact: 6,000 – estimated number of providers across the United States who use RCM services from NextGen Healthcare. That’s what we’re talking about here. Is it a fact or an estimate? I’m a little confused. It’s said with dramatic flair – “fact.” And then, a number 6,000. Would it be more like a data point or something else? But it can’t be a fact if it’s estimated. So which is it: Is it a fact or an estimate?
Here’s the interesting part
They go on to the next one. Fact: 12 million – approximate number of claims. I can’t help but laugh. It’s hard to do this with a straight face. I’ll try one more time. Fact. I can’t do it. Okay, I’ll try to keep a straight face. I am almost done. Fact: 12 million – approximate number of claims per year managed by our financial management and medical billing experts. I got through that. Again, is it a fact or an approximation? Come on, guys!
Fact: 2 billion, that’s a significant number – estimated amount collected by our medical billing services on behalf of practices throughout the United States. Is that a fact or an estimate? I mean, shouldn’t you know? It seems basic concerning revenue cycle management. This is the most basic data that should be available in any garbage reporting system: how many clients you have, how many practices there are.
What about claims?
If you don’t know how many practices there are, you’ve got a big problem like billing for the wrong people. How many claims have you submitted? Again, not a complicated thing. How much have you collected? That’s probably the most critical number in revenue cycle management. It’s actually in the name “revenue.” So you don’t even know what the revenue is that you’re collecting. It’s just so bizarre. It keeps going.
Another quote, “We were looking for the professional expertise of RCM to take us to the next level.” This is a quote, a testimonial from somebody. But again, it’s so vague. It doesn’t say anything. It’s not like, “Oh, our revenue is up 13% in the first year.” It’s like, “We were looking for professional expertise to take us to the next level.” What next level? This isn’t college versus the pros. There’s just so much data available. How can they be so horrifically nonspecific and vague about revenue cycle management?
Do quotes even matter?
They quote “powerful technology.” I’m quoting, and they didn’t even say it before. They were talking about technology. And there is an image of a pen and paper and a hand calculator. I mean, what the f***? I’m sorry! Look, nothing says futuristic like a 40-year-old hand calculator and 2,000-year-old paper and pen technology. Really? That’s what you consider to be futuristic? Could you at least have some blinky lights?
What about the white paper?
There’s a white paper. There’s a whole bunch of white papers, but there’s a white paper. The title is “Achieve Better KPIs to Increase Profits.” This is stupid, super stupid. It’s completely backward and nonsensical. You don’t get better KPIs to perform better. You perform better, and then you get correspondingly better KPIs as a result. KPIs are just the measurement of performance.
You don’t get better measurements and then somehow get better performance out of that. That’s like just saying, “Let’s get a better tape measure and somehow something will get longer,” or saying, “Hey, why don’t we get a lower time to run faster?” No! You run faster, and then you get a lower time. That makes no sense at all.
It’s entirely possible that they have horrific marketing or that their legal is so intrusive, like restrictive. Maybe, the legal and marketing of NextGen sucks. But if this website and these white papers are any indication of the analytics, reporting, or even the financial performance capabilities of the company, watch out!