Measuring the financial health of your practice plays an important role in future growth. When you understand the metrics that impact your revenue cycle, you can better manage your overall process by making strategic changes to increase revenue and lower costs.
Every night countless healthcare financial leaders around the country lay awake contemplating three of their biggest concerns: the difficult labor market, optimizing the use of and considering new technology and improving the patient experience.
Healthcare financial and operational leaders are grappling with major challenges like labor shortages, patient satisfaction and a proliferation of technology vendors to manage. Many leaders see the patient financial experience as ripe for transformation and believe that digital tools and new approaches to revenue cycle operations can help.
The healthcare workforce shortage is hitting physician groups hard. Worse, the tight labor market doesn’t appear to be a brief bump in the road. Findings from dozens of studies reveal that the shortage of healthcare professionals in the U.S. will not end anytime soon.
"This is not an either/or. This is an and,” explains Jennifer Stemmler, Chief Digital Officer for Adventist Health. “How do we solve a great consumer experience and improve our yield and cost to collect?”
Several converging trends are continuing to hammer healthcare organizations. Namely: Thin margins are getting thinner, and a tight labor market is getting tighter, while consumer expectations keep growing.
Imagine this predicament: You manage the registration and admissions functions at a small hospital in rural North Carolina. You’ve recently lost several staff members to retirement, family moves, and other routine causes of attrition. However, several of these staff vacancies occurred Read More
Working remotely was a necessity for many people during COVID-19 lockdowns. As the proverb goes, “necessity is the mother of invention.” So, perhaps it shouldn’t surprise us that within mere months, humanity found ways to remotely accomplish all sorts of jobs that were primarily performed in person before the ...
With more Americans becoming vaccinated and some COVID-19 restrictions being lifted, medical practices are in a better position to get back to their “normal” day-to-day operations. After a challenging 2020 –
The No Surprises Act of the 2021 Consolidated Appropriations Act greatly expanded patient protections through upfront cost transparency in the form of Good Faith Estimates (“GFE”). Specifically, the law requires each health care ...