2020 delivered a devastating $323 billion loss to hospitals, leaving the financial outlook questionable for many organizations. As losses continue to soar in 2021, hospitals could lose $53 to $122 billion this year, depending on key factors such as vaccine supply and consumer attitudes on visiting acute care facilities.
During this critical timeframe, providers that weather the storm, grow stronger and build market share, will set themselves apart as the leaders in this crowded landscape. While revenue cycle teams may be focused on financial survival and putting out day-to-day fires, it may be helpful to take a step back and decide if a new RCM approach is needed to increase profitability.
This whitepaper provides revenue cycle optimization strategies to help hospitals and health systems contain costs, grow revenue, and create a positive patient experience so they can achieve long-term success amid healthcare’s ongoing financial hardships.