Hospital execs: More self-pay, lower reimbursement coming post-COVID-19

Five takeaways from the survey and Guidehouses analysis:.

Morgan Haefner –
Wednesday, September 30th, 2020
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Healthcare facility and health system leaders are getting ready for reimbursement shifts after the COVID-19 pandemic, including growth in self-pay clients and lower repayment from business payers, according to an analysis from the Guidehouse Center for Health Insights, which mentioned information from a Healthcare Financial Management Association survey.

The study, which consisted of actions from 150 supplier CFOs and income cycle executives, asked for forecasts around compensation and profits cycle in the next 12 months. Topics consisted of payer mix changes, consumer experience, revenue cycle IT spending plans and price transparency..

1. About 70 percent of health center and health system executives stated they are preparing for lower commercial reimbursement as self-pay patients and Medicaid beneficiaries increase.
2. Nearly all– 92 percent of executive respondents– have actually increased telehealth use. Seventy-three percent said they utilized telehealth to increase engagement with clients and meet consumerism demands.

3. Payment engagement strategies the executives are utilizing consist of monetary therapy and payment plans (63 percent) and online websites for rate quotes and payment (56 percent).

For EHRs, 42 percent of participants said adoption is exceeding difficulties presented by EHRs. Sixty-eight percent stated they properly utilize available EHR functions.

Nearly all– 92 percent of executive participants– have increased telehealth usage. Seventy-three percent said they used telehealth to increase engagement with patients and satisfy consumerism needs.

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Providers are planning for decreases in their profits cycle IT spending plans. Compared to 2019 study outcomes, 35 percent of executives said their IT spending plans will increase in the next year, down from 69 percent.

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Compared to 2019 survey outcomes, 35 percent of executives said their IT spending plans will increase in the next year, down from 69 percent. For EHRs, 42 percent of respondents stated adoption is exceeding obstacles provided by EHRs. Sixty-eight percent stated they properly utilize available EHR functions.

View the complete analysis here..