Preserving Profitability: Why Financial Redundancy Is Vital in Healthcare

MedCity News July 28, 2024
Greg Surla

While hospitals have contingency plans for events like power outages and extreme weather — backup generators, secondary chillers, and fiber for internet coverage — they can typically neglect vulnerabilities in the revenue cycle. Here are five proactive measures for hospitals and revenue cycle management/clearing house partners.

The events of the first half of 2024 highlighted a crucial lesson. No health system is immune to cyberattacks. These attacks impact patient care and can lead to significant financial consequences, including class action lawsuits and fines from HIPAA and the Securities and Exchange Commission (SEC).

However, one often overlooked impact of a cyberattack is its effect on the revenue cycle. A recent study by the American Hospital Association revealed that a cybersecurity...

Today's Sponsors

Today's Sponsor