For more than a decade, AGS Health has worked with some of the nation’s leading healthcare organizations. Throughout the years, there have been significant changes in healthcare and revenue cycle management. Today, hospitals operate under substantial financial pressures; revenue is down 37 percent compared to pre-pandemic levels. Add to this the pressures from a global pandemic and an aging population, and the need to contain revenue becomes even more apparent.
The unprecedented pace of change and complexity of the healthcare system, combined with staffing shortages, changing regulations, and globalization of resources are redefining healthcare operations. Partners, like AGS Health , need to monitor, predict and position themselves to meet those needs.
As healthcare organizations and the healthcare industry have changed to meet the demands placed on them, so have we. We hired executives with extensive experience in healthcare. We put in place a rigorous onboarding process to ensure our coding and A/R specialists understand regulatory changes and are knowledgeable about the latest requirements and best practices. We developed processes to ensure smooth client onboarding and streamlined operations for our staff and customers.
In September 2021, we acquired EZDI, an innovative technology company supporting revenue cycle management with computer-assisted coding, computer-assisted CDI, auditing, and advanced analytics solutions. This acquisition helped us round out our position as a technology-enabled RCM services partner.
Since the acquisition, we have operated as one company under two brands. The time has come to formally merge our brands and establish AGS Health’s position as a premier revenue cycle management partner.
As part of this brand assessment, we analyzed the trends and issues reshaping the market and evaluated how AGS Health could best support the needs of healthcare providers. With labor expenses projected to increase by $86 billion and non-labor expenses projected to increase by $49 billion, the need for healthcare organizations to contain revenue has never been more critical.
Our Role in Revenue Cycle Management
More than half of hospitals are operating in the red, according to Kaufman, Hall & Associates, and forecasts for the remainder of 2022 show margins could be down by 133 percent compared to pre-pandemic levels. Fifty-three percent of hospitals could have negative margins for 2022. This revenue shortfall has many healthcare executives questioning how best to maximize and retain hard-earned revenue so they can continue to meet the needs of the communities in which they operate.
The stability of healthcare organizations depends on their financial health and the monetary resources to invest in new innovations and talented team members. Enhancing revenue cycle performance is one way healthcare leaders can ensure their organizations remain financially strong. As a leader in revenue cycle management, we wanted to keep this top of mind as we embarked on our rebranding initiative.
Our expert services complemented by AI-enabled technologies and high-touch support deliver immediate financial relief to our customers.
Expert Services
People play an essential role in any organization. The depth of revenue cycle expertise among our team is second to none. Our executive team alone brings decades of revenue cycle expertise, and all service specialists possess college degrees in life sciences and receive rigorous training to keep up with the changing guidelines and regulations.
High-Touch Support
We believe the best way to diagnose is to listen. As a trusted partner our first step is to fully understand the goals of our customers and the challenges that stand in their way. Next, we rally our team of seasoned experts for an in-depth analysis of the customer’s RCM processes and current results. We then design a comprehensive solution to help them achieve their goals.
Our engagement with customers doesn’t end with the implementation of a solution. As a committed partner to their success, our team provides continual performance updates and actionable insights to support the long-term growth of their revenue cycle.
AI-Enabled Technologies
The promise of technology is alluring, and for the revenue cycle, there are great benefits to leveraging technology. Yet, it’s important for healthcare leaders to understand that while technological advancements are helping to automate workflows and improve analytics, people add a layer of protection by validating data and managing more complex cases. We set realistic expectations with customers by leveraging automation where it can provide the greatest benefits and lowest risk. We then supplement these capabilities with award-winning human-in-the-loop services. We call this approach, ‘AI with a human touch.’
Financial Stability in Healthcare
As we embarked on our rebranding initiative, we kept these elements in mind, but our goal has been, and will always be, to help healthcare organizations contain revenue so they have the financial strength they need to provide highest quality of care to the communities they serve.
We are excited to introduce you to the new AGS Health, and look forward to helping you achieve the revenue to realize your vision.
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