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.
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.
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 ...
It’s probably safe to say that most of the country’s hospitals and health systems are posting that message prominently right now. Recent employment trends show that the number of people quitting healthcare and social assistance jobs was
The pandemic-driven workforce shortage is leading to significant changes in revenue cycle management operations at many hospitals and health systems.
Changes include the greater use of remote workers, soaring wage costs, implementation of sign-on bonuses, the outsourcing of jobs and greater use of automation, all of which ...
After two years of operating during the pandemic, hospital organizations such as LifePoint Health continue to face financial challenges.
Labor and supply costs increased by 14% and 13%, respectively, between 2020 and 2021, and Kaufman Hall projects hospitals’ losses for 2021 could amount to $53 billion under an ...
Advances Integrated Technology Strategy Through Enhanced Revenue Intelligence and Expanded Automation Opportunity
Healthcare providers face unprecedented volume gaps, which is putting more pressure on finance and revenue cycle leaders to create efficiencies that increase margins. But what does this really mean in terms of dollars and operational improvement? And how can intelligent automation (IA) help?
VisitPay to offer a seamless and complete payment experience for Adventist Health patients expanding the reach of R1’s Entri™ platform