Becker's Healthcare July 31, 2024
By Shanna DeLeo, Senior Vice President of Development for Sunrise™, Altera Digital Health
According to a survey by the American College of Healthcare Executives (ACHE), financial issues remain a top concern for healthcare CEOs, second only to staffing shortages. Of these CEOs, more than half say that revenue cycle management (RCM) and converting charges to cash are among their biggest challenges.
As operating costs increase and reimbursement decreases, organizations must uncover more opportunities to widen their margins and continue supporting high-quality care. If you’re struggling to maintain financial stability, determine if your organization is making any of these costly—yet fixable—missteps:
1. You’re billing the wrong patient.
Most hospitals and health systems use a variety of IT solutions to meet the...
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