Budgeting
The cost of improving staffing would be offset by savings achieved through reducing readmissions and lengths of stay.
Prior authorizations in particular are a complex, time-consuming function that would be well served by technology.
Operating margin was -0.6% in January, not including CARES Act funding, while total expenses continue to rise.
The study suggests continued payment reforms and increasing computer-based decision-support tools.
Year-end financials are being watched closely as the healthcare system gets a handle on the full impact of COVID-19.
Budgets continue to be impacted by the increased use of high-cost drugs and critical care drugs for coronavirus patients.
Some organizations use up to four vendors, each of whom handles different components of the revenue cycle process.
The numbers speak to the struggles the healthcare industry faces as it remains in the midst of the battle against the coronavirus.
The AHA data doesn’t yet include figures from the COVID-19 pandemic that consumed much of 2020.
Getting paid has become imperative during a time when both hospitals and patients may be cash-strapped.