INTRODUCTION

Automating the AR process dramatically improves productivity in collections by automatically telling collectors who to call and collect from, when, and why, with all the vital data they need available to them within one easy-to-navigate user interface. RCM automation removes the manual processes such as spreadsheets and aging reports from AR, and provides the tools necessary to focus on critical revenue-driving activities. By implementing AR best practicies, it is easier to maintain consistent communication, send invoices more quickly, follow up with customers before due dates, calculate and analyze key performance indicators (KPIs), store vital information in one central place, and much more.

PayStream research shows that collectors who utilize RCM automation are able to spend far less time on administrative duties such as prioritizing daily activities or preparing for calls, and spend a majority of their time communicating with customers, settling disputes, and other value-added tasks that result in lowering DSO, reducing overdue AR, and reducing bad debt, See Figure 1.

Table Of Contents

Executive Summary.......................................................................... 1
AR Automation Today....................................................................... 2
The True Value of RCM Automation.................................................. 5
Credit and Collection Challenges..................................................... 10
Revenue Cycle Management Universe............................................. 13
Innovations in RCM Automation....................................................... 16
Approaching RCM from Different Angles.......................................... 17
Selecting an RCM Solution............................................................... 18
FICO Profile...................................................................................... 19
SAP Profile........................................................................................ 23