In a recently released study, the Health Policy Commission revealed that hospitals in Massachusetts need to rethink their revenue cycle management approach or risk closing.
The study cited two recent community hospital closings in the state as a catalyst to the investigation. As causes for the risk, the study listed such issues as the presence of academic medical centers and disproportionate population of publicly insured patients. Community hospitals, who typically serve lower-income patients, are facing even more of a challenge in this area.
For this reason, the organization recommends that hospitals make investments to improve operations, like hiring or retraining staff or implementing new technology. Hospitals may not have the finances for these undertakings, which is why many choose to outsource operations like revenue cycle management to free up resources for better care.
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