MedCity News December 7, 2022
Hospital and health system revenue cycles will face a labor shortage and external economic pressures for the indefinite future. Automation can help streamline and optimize healthcare revenue cycles, but organizations must use this enabling technology with strategic intent.
The worst of Covid-19 may be behind us, but the pandemic continues to have a negative impact on margins and healthcare revenue with 2022 poised to be the worst financial year since the beginning of the pandemic. Costs for everything are up, inflation is at around 7.7% and all health systems are facing staffing shortages in both clinical and administrative positions. A recent study indicates that 92% of revenue cycle teams are understaffed with 1/3 understaffed by more than 20 positions.
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