Becker's Healthcare January 25, 2024
Hospital and health system executives are focusing on revenue cycle management improvement over the next 12 months to enter 2025 in a more financially stable position.
There are many opportunities to transform the revenue cycle with technology, automation and staff upskilling to truly make a difference.
Stephen DelRossi, interim CEO and CFO of Bishop, Calif.-based Northern Inyo Healthcare District, said revenue cycle is the most important area for improvement in the coming year.
“With cash collections at 87% of net patient revenue and denial rate approaching 5%, correcting these two items will move the hospital to a positive position,” Mr. DelRossi told Becker’s. “We are also expanding services and service lines to generate more revenue.”
In the last five months,...
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