Adapting to Change: The Imperative for Provider Revenue Diversification

Healthcare IT Today October 11, 2024
Guest Author

The following is a guest article by Brian Doyle, SVP at Rectangle Health

Recent cyberattacks in the industry caused significant disruptions in healthcare claims processing and billing, impacting physicians, patients, and insurers. A survey done by the American Medical Association (AMA) revealed disruptions caused financial strain and jeopardized patient care. Over a third (36%) of respondents reported suspended claim payments, and 32% could not submit new claims.

These disruptions were particularly challenging for smaller practices, highlighting a specific vulnerability: dependence on a single system for insurance claims and payments. While the outage caused significant hardship, it can also be a catalyst for positive change by encouraging healthcare providers to consider diversifying their revenue streams.

Patient Payments: A Powerful Solution

With...

Today's Sponsors

Today's Sponsor