Impact of Adding Data Analytics to RCM Offerings at nThrive

Today, information is king and businesses are using analytics more than ever to inform important decisions.

If metrics can be applied to help show return on investment or financial stability, executives are interested in exploring the best way to engage them to do so. It's good business, but it is complex trying to find which data to track and how to convert the analysis into practical steps towards better investments.

While there can be challenges in tracking the financial health of a growing company, there are analytics that can ease the process. 

Analytics increase and accelerate revenue cycle management (RCM), and streamline processes to reduce inefficiencies. With a better understanding of the revenue cycle, businesses are better positioned to anticipate income, identify consistent issues, and plan for the future.

This is better for everyone involved. It provides people stable jobs, ensures business growth, and ultimately such businesses become a part of the bigger picture. When businesses to better the economy does better.

How Joel Hackney Implements RCM at nThrive

At nThrive, Joel believes in the company’s ability to leverage data to help its clients maintain or improve their financial health through innovations in revenue cycle management (RCM), which positions both nThrive and the client’s company for greater success and profitability long-term.

Analytics in RCM is not new, but few companies aside from nThrive offer a comprehensive end-to-end solution that not only eliminates the challenge of managing multiple point solutions, but also ensures those solutions are fully connected to prove enterprise-wide financial results and value.

nThrive knows profitability is a primary goal for the systems it serves, and that a key component is understanding where there is room for financial improvement. Adding analytics to the RCM offering was a no-brainer for Joel. Companies should demand it in their RCM software, otherwise, they’re not getting the full value.

Implementing the right analytics and making it actionable is dependent on two steps: a defined approach to the project with clear expectations, and software that can support the goals of the program. With nThrive you get both.

With the service offerings of nThrive, clients can recognize the benefits of measuring the performance of their revenue cycle.