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Category: Revenue Cycle Trends

Addressing Revenue Cycle Labor Shortage with Technology and Outsourcing

In healthcare, the labor shortage is not limited to clinical roles but extends across administrative functions. If you look at the revenue cycle, lack of timely filing and follow-ups can increase denials and result in delayed cashflows. In this blog, we look at some of the strategies revenue cycles CFOs are deploying.

Revenue Cycle Trends 2023

For hospitals, healthcare systems, and even mid to large physician practices, 2022 was the worst financial year in decades. Healthcare providers already reeling under the impact of the long period of adversity due to COVID-19 were further impacted by inflationary impact and increasing cost of healthcare supplies. Protecting the revenue and doing more with fewer resources are the central themes on the minds of RCM leaders. The impact of the great resignation has left them short of both administrative and clinical workforce.

2023 promises to be a super-charged year with an increasing pace of consolidation, innovation, and adoption of new ways of doing work. We discuss some of the trends impacting healthcare and the revenue cycle.

A look back at 2021 Revenue Cycle Trends

The impact on the healthcare RCM (Revenue Cycle Management) the year 2021 had is one of the things that is not expected to reverse any time soon or ever. The following changes in the healthcare system have posed the biggest challenges to RCM:

Reimbursements for COVID-19 Treatments & Testing of Uninsured Individuals

As with all other industries, healthcare providers are facing financial challenges stemming from COVID-19. Getting reimbursements for COVID-19 treatments of uninsured individuals is complicated & requires healthcare providers to stay up to date with the nuances of the HRSA program for the uninsured. In this article we provide a consolidated view of everything one should know about the HRSA program for COVID-19 treatments of the uninsured.