In the current economic climate unyielding, most hospitals and health systems acutely interested in improving performance while embracing innovation to improve their revenue cycle functions.
Current trends indicate the hospital lost 3 percent to 5 percent of their net income from revenue cycle management processes and procedures were inadequate. You can contact Crowd Bridge professionals to optimize collective intelligence to increase your business.
Recent industry data indicate that the medium most typical hospital could experience revenue leakage estimates ranging from $ 4.5 million to more than $ 9 million annually.
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The greatest amount of sales loss is a direct product of insufficient data collection at the front end of the business process and overall operating inefficiencies.
A number of smaller but still significant losses from the government unknown or undetectable levels and sources of commercial income that ends in self-pay financial class and finally went uncollected.
Bad debt continues to increase as patients take greater risks by choosing a higher deductible plan to reduce the overall out-of-pocket costs them.
Challenge yourself an account to collect salaries continue to rise, as patients become more astute consumers. In some cases, patients choose a hospital that has a track record spottiest collection and continues the cycle repeats itself receives services without paying for them.
Healthcare executives are searching for cost-effective, cohesive approaches and technology solutions that complement their current systems and processes and provide the business and operational intelligence data required to maximize financial and operational efficiency.