Morgan Haefner –
Tuesday, October 20th, 2020
The study asked 117 executives from 112 health systems how innovation concerns have shifted throughout the COVID-19 pandemic. The results are based on 2 surveys: a preliminary one gleaning 60 actions and a second phone-based survey in which 117 executives took part..
Five revenue cycle trends health system executives are seeing:.
Revenue cycle management teams must anticipate more innovation in 2021, as 57 percent of health system executives state theyre optimistic change will concern the space in the next year, according to a survey from the Center for Connected Medicine and KLAS Research.
1. Survey participants are most positive that technology will assist solve coding/billing and receivables problems. Their self-confidence is lower in innovations ability to deal with problems in rate transparency and ACO requirements for shared savings..
2. Specifically in regard to rate openness, numerous respondents stated regulatory changes are needed in addition to innovation to deal with issues around healthcare billing..
3. Health system executives prepare to increase telehealth as an income stream. They also desire to allow more employees to work remotely and use more innovation to monitor revenue cycle information.
4. During the COVID-19 pandemic, executives said their profits cycle teams discovered to be more flexible in operating and carrying out technology. They likewise ended up being more attuned to earnings cycle management issues in general, the study found.
5. Health systems are focusing on front-end procedures to fix earnings cycle management issues rather than waiting to meet them on the back end..
© Copyright ASC COMMUNICATIONS 2020. Interested in LINKING to or REPRINTING this material? View our policies by clicking here.
Find out more here..
More posts on health care financing:8 hospitals laying off workersJefferson Health to cut 500 jobs, minimize executive pay47 healthcare facilities closed, applied for insolvency this year.
Health system executives plan to increase telehealth as a profits stream. They likewise desire to permit more staff members to work remotely and use more technology to monitor income cycle information.
During the COVID-19 pandemic, executives stated their earnings cycle teams found out to be more flexible in executing and operating innovation. They also ended up being more attuned to revenue cycle management problems in basic, the study found.