“The lift on our end was minimal and the benefit to cash was immediate.”Matthew Stojakovich, Executive Director Revenue Cycle Shared Services, University of Miami Health System
In many hospitals, once an account reaches a zero balance or is written off, the revenue opportunity is assumed to be gone. Yet across the industry, finance leaders are starting to challenge that assumption.
Rising claim denials & staffing shortages are driving hospitals to write off recoverable revenue.
As hospitals begin setting financial goals for 2026, Revenue Cycle Management (RCM) leaders face familiar challenges: rising denial rates, ongoing staffing constraints, payer complexity, and constant pressure to improve
Delta variant destabilizes healthcare planning: With the spread of the more contagious delta variant, Covid-19 cases spiked almost 70 percent in the last week (www.washingtonpost.com/…covid-cases-rising/). The public hea
While the COVID-19 pandemic flooded hospitals with patients in 2020, healthcare systems did not benefit financially. In most businesses, more customers mean more money. In the case of hospitals, those…
2021 is here and with a new year, there’s word of COVID-19 vaccines making their way throughout the United States. While rollout is slower than expected, about 5 million people…
Reducing costs is important in any industry, but especially in the healthcare field. While reducing costs is currently a top priority for healthcare CFOS, the lack of sufficient data and…
The United States government is currently rolling out vaccines to hospitals across the country. Vaccines are being given to essential workers first – including hospital staff employees. After the first…
Earlier this year, many ASCs around the United States saw their financial picture begin to look bleak. Due to the Covid-19 pandemic, voluntary (non-emergency) outpatient surgeries were halted in order…
As the Covid-19 pandemic rages onward, hospitals and healthcare systems everywhere are dealing with financial issues. Not only are their emergency departments overrun with Covid patients, but, because of the…
As the Covid-19 pandemic presses on, even more turmoil has hit the healthcare industry. Some hospitals and healthcare systems have filed for bankruptcy, while others are closing clinics and laying…
Even though the Covid-19 pandemic continues to worsen in the United States, causing distress to hospitals around the country, some other systems find that they have the funds available to…
The Covid-19 pandemic has been tough to deal with in more than one way. Some hospitals are at risk of going under, due to cuts in nonessential services. Others are…
Now that the Covid-19 pandemic is winding down and hospitals and medical centers are going back to “the new normal” it’s time for many directors and CFOs to check the…
As COVID-19 continues on its path and states begin to open, it’s clear that the medical industry will never be the same. Some hospitals have received their Cares Act payments,…
With the COVID-19 pandemic in full swing, there are some clear takeaways on the hospital financial front. These things have been brewing for some time, thanks to financial pressures that…
A lot has changed in a week. Most of the country is on lock-down with people self-quarantining themselves. Some hospitals and medical systems are overwhelmed with people waiting to be…
Now that the President has declared a national state of emergency and many states have followed suit by canceling schools and events, it’s safe to say that the COVID-19 pandemic…
In a pattern that has become routine, and one that seems more dangerous than ever with an approaching pandemic, more hospital systems in the United States have filed for bankruptcy…
As we’ve discussed before, healthcare facility closures occur on a regular basis. Sinc the beginning of 2020, five different provider groups and one manufacturer have filed for bankruptcy. Since the…
In a country where some hospitals are succeeding and growing, while others are in danger of filing for bankruptcy and shutting their doors, there are some things that can be…
A series of recent announcements proved the continuing uncertainty of the medical field. Eight hospitals located throughout the United States filed for bankruptcy protections. Although there are some areas of…
Claim denials are one of the most common issues in healthcare. These claim denials can cost hospitals, outpatient surgery centers, and even physician’s offices quite a bit of money every…
More hospital closures are on the horizon. A recent report from Morgan Stanley identified over 450 hospitals in the United States that are in danger of failing, due to financial…
Clinical process improvements are one of the latest trends in hospital management. These improvements are designed to hold two solutions – they help the patient receive better care, while the…
Claim denials are one of the most common issues in healthcare. These claim denials can cost hospitals, outpatient surgery centers, and even physician’s offices quite a bit of money every…
Hospital closures are never good news. They tend to make headlines for all of the wrong reasons. These closed hospitals can leave entire regions without access to proper medical care…
Affinity Medical Center in Massillon, Ohio shut down in February 2018, citing “declining revenues” as one of their main reasons. In short, they had so much debt that they couldn’t…