MedCity News May 16, 2022
An analytics-driven A/R strategy can significantly improve collections in today’s healthcare environment. This article goes over the pillars of this approach as well as what metrics should be focused on in implementing such a strategy.
The Covid-19 pandemic further complicated the ability of healthcare providers to collect on services rendered, a process that was already a challenge. A poll by MGMA in November 2021 poll found that 49% of medical practice leaders reported an increase in the aging of accounts receivable.
Healthcare Financial Management Association’s (HFMA) 2021 Pulse Survey reveals that the pandemic has caused:
- A 50.5% increase in erratic/unpredictable work/claim volumes
- A 37% increase in workload due to confusion over Covid-19 codes and claims
- rapid, unplanned shift to...
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Topics: Analytics, Insurance, Payer, Provider, RCM (Revenue Cycle Mgmt), Survey / Study, Technology, Trends