The stress of front-line providers has justifiably gotten large amounts of attention. But at the same time, hospitals and health systems are fighting a silent battle — one that will impact the revenue cycle for months, and possibly years into the future.
Hospitals are under more pressure than ever to reduce costs.
A Kaufman Hall analysis of about 800 hospitals found a 21.3% decline in operating margins, and a 14.5% decrease in EBITDA operating margins between November 2018 and the same month in 2019 [1].While the results varied regionally, the message was clear — many hospital decision-makers across the country face increased pressure to bend the cost curve and do more with less.
Hospital CFOs are facing challenges that are becoming more complex and increasingly tied to other organizational initiatives. As your organization addresses new forms of competition, navigates the consumerization of healthcare, and finds its way in the wake of new payment and medical billing practices, it will be crucial to pinpoint the KPIs that align with your goals.
Outsourcing is changing — possibly more in home health billing services than anywhere else.
The assumptions and practices that were true a few years ago have shifted thanks to technology and general changes in the industry.
