When hospitals buy private practices [Video]

Jun 16, 2015 | Hospital Finance Efficiency

One of the most cost-effective ways for hospitals to grow can be purchasing private practices from physicians. With the built-in infrastructure to provide care to patients, hospitals turn to practice acquisitions to gain talent and an existing roster of patients.

However, the transition can pose revenue cycle challenges like eliminating redundancies and merging technology so that all parties are compatible. Accounts receivable is one area where inconsistencies can lead to inefficiency. One of the best ways to manage a hospital rev cycle is to outsource receivables management. This reduces wasted time and allows administrators to focus on high-priority tasks.

Contact Professional Medical Services to learn more about how our solutions can help your care facility maximize its operating budget.