IDC MarketScape recognizes Ricoh as a “Major Player” in Revenue Cycle Management Service Solutions Market
The healthcare industry is in the midst of a decade of transformation, pressuring health delivery organizations (HDOs) to evolve.
Skyrocketing insurance denials, shrinking margins due to inflation, and growing competition from the likes of Amazon are painful reminders of the importance of healthy revenue cycle management.
The 2022-2023 IDC MarketScape for the U.S. Revenue Cycle Management (RCM) Service Solutions Report provides buyers with insight into the strategies, capabilities, and criteria they should consider when selecting a partner. We believe Ricoh’s inclusion in the report as a “Major Player” marks a significant milestone in its emergence as a leading healthcare information management provider.
“We believe this MarketScape validates Ricoh’s efforts to provide paperless and automated solutions for many critical aspects of the revenue cycle and patient encounter process.”
Rory Fitzpatrick
Vice President, Vertical Markets
Ricoh
What is revenue cycle management?
IDC defines a next-generation revenue cycle as "holistic and intelligent enablement of automated revenue optimization and denial prevention across the provider service continuum in alignment with value-based outcomes."
From the first appointment to the final payment, RCM impacts every point of the patient journey. RCM is, at its most basic level, the process by which a health delivery organization (HDO) tracks the care that has been performed and payments rendered for that care.
With the inherent complexity in today’s healthcare ecosystem, that process is more nuanced than ever before. Denials, authorizations, and other issues impact patient care and revenue. By simplifying communication between patient, provider, and payer, RCM services and solutions improve revenue reconciliation for HDOs and insurers while boosting patient experience.
Recommended for you
December 2024 Magic Quadrant™ for Document Management
Document management and process automation are revolutionizing business. See why Gartner® recognized Ricoh in the December 2024 Magic Quadrant™ for Document Management.
Key document management system security features
When shopping for document management systems, you want to ensure they have these 7 features to keep your documents, information, and data safe.
Getting attention with color embellishments
A review of the 2024 Color Embellishments survey looks at PSPs' and printer buyers' thinking on this powerful finishing technique.