Tough economic times have forced a lot of hospitals to cut down on their budgets. That doesn’t mean that the quality of care should suffer, however.
New study says hospitals in Massachusetts must rethink their approach to revenue cycle management or risk closing.
With the pressure of consumer demand and their own bottom-line, hospitals are currently facing new challenges in risk management.
As the health care industry shifts, so do roles in finance departments.
One of the major problems that plagues hospital budgets everywhere is the overuse of ambulances in response to unnecessary 911 calls.
One of the best ways hospitals can address inefficiencies in the supply and revenue cycles is to conduct a thorough review of what’s currently working and what could use an adjustment.
A 2015 study by Hospital Finance Management magazine found that revenue cycle management is central to medical facilities’ ability to expand according to their master plans.
The three major credit ratings agencies found that the healthcare and hospital sector is showing a negative outlook for 2015.