Healthcare Finance News July 7, 2023
Revenue is not keeping up with inflation, but the trend is heading from hospitals losing money to making money.
Many hospitals are facing a cash shortage brought on by labor costs, inflation and the continued struggle to recover financially from the pandemic.
Literally three times a day, Plante Moran’s Duane Fitch said he hears from healthcare systems that are on the verge of violating their financial covenants with lenders. Fitch is a national healthcare consulting practice leader who works with hospitals to optimize financial and strategic performance.
“Revenue is not keeping up with inflation and is putting tremendous pressure on the bottom line,” Fitch said. “We advise them to make sure they collect all of the revenue. Revenue cycle...
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