ISG Launches First-of-its-Kind Contract Framework for Revenue Cycle Management
Contracting and deal structure leverages AI and industry best practices to save U.S. healthcare organizations up to 50 percent on operating costs
Information Services Group (ISG) (Nasdaq: III), a global AI-centered technology research and advisory firm, has launched a standard for revenue cycle contract management for U.S. healthcare organizations that can cut operating costs by as much as half.
The ISG offering is the first standardized contracting framework for U.S. healthcare organizations seeking to engage providers of revenue cycle management – the end-to-end financial management of a patient's account from initial appointment scheduling to final payment collection.
"As U.S. healthcare organizations face a surge in uninsured patients and steep, new operational and administrative burdens, revenue cycle management has become a critical tool for maximizing revenue and cash flow," said James Burke, partner and ISG Healthcare lead. "Standard contract terms, flexible deal structures and AI-based platforms and services will bring this market the best practices and cost optimization it needs to meet its transformation mandates."
The ISG approach makes revenue cycle management contractable, measurable and governable. With a portfolio that includes reusable, industry-leading templates, clause libraries, KPI and SLA catalogs, real-time market benchmarks and a staged process that spans strategy, transition and ongoing governance, the ISG revenue cycle management framework can help healthcare providers reduce rework and staffing costs, ensure compliance and improve financial stability.
It also leverages AI-based platforms and services to manage administrative tasks and increase efficiency, which can save healthcare organizations nearly 50 percent of their operations costs and drive millions of dollars in increased net patient revenue. In recent client engagements, the ISG revenue cycle management framework saved a children's healthcare system $15 million over a five-year IT services contract and delivered a Midwest hospital network 50 percent savings and $45 million in annual revenue uplift.
"U.S. healthcare providers are entering a period of intensified financial and operational pressure, making revenue cycle performance a must-have," Burke said. "Properly structured, negotiated and governed revenue cycle transformation agreements have been proven to build structurally lower-cost enterprises that can fund transformation through self-generated savings."
ISG is the world's leading sourcing advisor and the industry pioneer. Working with global companies, including many of the largest U.S. healthcare payers and providers, the firm influences more than $200 billion of global technology spend annually. Its ISG Tango™ AI-supported software platform helps enterprise clients make informed buying decisions and dramatically cut the time and effort needed to generate contracts.
Additional information on the ISG revenue cycle management solution is available here.
About ISG
ISG (Nasdaq: III) is a global AI-centered technology research and advisory firm. A trusted partner to more than 900 clients, including 75 of the world's top 100 enterprises, ISG is a long-time leader in technology and business services that is now at the forefront of leveraging AI to help organizations achieve operational excellence and faster growth. The firm, founded in 2006, is known for its proprietary market data, in-depth knowledge of provider ecosystems, and the expertise of its 1,600 professionals worldwide working together to help clients maximize the value of their technology investments.
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Press Contacts:
Laura Hupprich, ISG
+1 203 517 3132
[email protected]
Julianna Sheridan, Matter Communications for ISG
+1 978 518 4520
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