Positioning Your Emergency Practice for Success in Times of Change
How an Elastic Business Model Improves Financial Results
Revenue for emergency providers has been under pressure in recent years. Factors such as CMS regulations, a rise in the volume of uninsured and underinsured patients, and the complexities of payer contracting are just a few of their recent challenges.
Now, practices face additional demands due to the COVID-19 pandemic. Most emergency practices have experienced a significant decline in patient volume as a result of the pandemic and the associated restrictions imposed across the country. For some emergency providers, the volume decline was as high as 85% of pre-COVID-19 averages. Support staff for many practices experienced furloughs while others were required to take unwanted time off. In many cases, physician compensation was decreased. Most organizations now face crucial decisions about their future.
This white paper will focus on revenue cycle considerations that can help emergency practices develop a strategy for long-term financial success and to better position themselves for future changes in patient volume.