Hospitals continue to face substantial financial and operational pressures, despite COVID-19’s long retreat. An historically tight labor market, rapidly rising costs, and changes in reimbursement and payer mix have left many organizations at or near the brink of financial jeopardy. To counter these adverse financial trends, it is critical for organizations to establish a financial safety net that can help them achieve and sustain revenue integrity.
zero-balance reviews of closed balance accounts performed by an experienced partner represent a final safety net at the end of the revenue cycle management process that’s been shown to generate hundreds of millions of dollars annually for hospitals and health systems.
Healthcare leaders can no longer expect traditional revenue cycle processes to produce the desired outcomes. To maximize cash flow, hospitals must instead harness automation and advanced analytics to augment their existing approaches at each step of the revenue cycle. Learn how this 6-step end-to-end action plan can transform your revenue cycle operations.
Whether, and to what extent, the industry can return to its pre-pandemic state remains unknown. But rather than simply waiting and hoping for the best, this whitepaper discusses four key areas hospitals can address right now to mitigate or reverse revenue losses.
As the COVID-19 crisis deepens, hospitals nationwide are scrambling to overcome unprecedented clinical and patient care demands and disruptions. As essential as these efforts are, it is also important that providers take steps to protect their revenue cycle operations and limit the economic fallout the pandemic is likely to produce.
With the federal government’s price transparency regulations recently strengthened to include stiffer penalties, hospitals and health systems must move quickly to ensure full compliance with the spirit and letter of the landmark regulation. Help ensure compliance with this landmark regulation with this 4-step process.
Multiple factors continue to fuel an increase in hospital bad debt, squeezing already-thin hospital margins and undermining financial stability. Many facilities don’t have systems in place to recover bad debt and most don’t expect to collect more than 20 cents on the dollar.
Learn how four non-conventional approaches can reduce write-offs and improve collections.
Gaining control over denials to reduce chronic revenue loss and costly remediation requires accurate information about where, when and why denials are occurring. HFRI has identified the top three departments where denials are the most prevalent. Download our whitepaper to learn how to decrease denials and improve margins.
Overcome the challenges of hospital pricing and revenue cycle management with a systematic approach grounded in empirical evidence and a capable staff implementing proven solutions. Download our whitepaper discussing the three ways to accelerate your financial transformation for improved revenue capture and better margins.
Today, more medical claims are denied than ever before, forcing hospitals and health systems to write-off tens of millions in bad debt every year. Health insurance claims that are too small, too old – or both – are left on the table, leaving AR teams to focus only on what seems the most likely to be recovered. Learn how you can recover the AR you thought was too old to collect and get every dollar you deserve from payers with our 4-step process.
