The Revenue Cycle: Creating an Environment Where Revenue Can Thrive
When it comes to receiving payment for services rendered, hospitals are squeezed from two directions. First, declining reimbursement rates mean hospitals collect only a fraction of what is due. Second, higher deductibles shift payment responsibility to consumers who may not be able to pay, which in turn forces hospitals to write off more unpaid bills. These ongoing challenges make it critically important for hospitals to identify, monitor and collect each and every dollar they are due.
“This environment is especially challenging for community hospitals,” said Tod Beasley,...