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Claim denials can be a frustrating and costly experience for both healthcare providers and patients—in 2022, the costs of claim denials rose 67%. To prevent claim denials and ensure a smooth, efficient revenue cycle management process, it’s important to...
4 min read
Several recent trends in the healthcare market have worsened the urgent issue of hospital denial management. Hospitals are grappling with the collection of their rightful payments, and each of these new developments poses an added threat. Let's explore...
8 min read
Medical practices, health systems and hospitals’ primary goals are to provide life-saving care and keep patients healthy. Like any other business, however, these healthcare organizations must also focus on their own financial health to stay afloat....
11 min read
Hospitals are starting to see some daylight as we approach the second half of 2023. Per normalized data from a recent June Kaufman Hall report, signs of recovery continue with three consecutive break-even months. Volumes have continued to stabilize, with...
10 min read
By Greg Lanier, Chief Growth Officer, FinThrive
2023 HFMA Annual did not disappoint! I was honored to be at such an electric event amongst many health system, hospital, provider, and business partner leaders across the country. The Gaylord Opryland...
7 min read
By Greg Lanier, Chief Growth Officer, FinThrive
HIMSS ’23 saw more than 35,000 attendees, as healthcare executives from around the world gathered to tackle the industry’s toughest challenges. Several themes emerged from the conference surrounding...
10 min read
By Greg Lanier, Chief Growth Officer, FinThrive
Last week, key customer executives from FinThrive gathered for two days in Sarasota, Florida. The discussion was electric, innovative, engaging, and transformative. Seema Verma, former CMS Administrator,...
9 min read
By Jonathan G. Wiik, Vice President, Health Insights, FinThrive
Welcome to the April 2023 edition of Revenue Management Insights. This month, we'll be discussing several important trends that are impacting the healthcare industry, including hospital...
8 min read
By Jonathan G. Wiik, Vice President, Health Insights, FinThrive
Welcome to the March edition of Healthcare Revenue Management Insights. Just as we’re starting to see flowers poking up through the snow (those of us in Colorado, at least), hospitals have...
9 min read
By Jonathan G. Wiik, Vice President, Health Insights, FinThrive
It’s about time: hospitals finally posted a positive margin in December according to Kaufmann Hall’s latest flash report. That’s just one piece of a generally optimistic outlook on the rest...
7 min read
2022 was a tough year for healthcare providers… and patients. For providers, expenses outpaced revenue, driven up by the labor shortage, premium-priced outsourcing services and inflationary supply costs. For patients, job instability, insurance...
10 min read
By Jonathan G. Wiik, Vice President, Health Insights, FinThrive
New year, new data! While the numbers from the end of 2022 continue to show the same challenges faced throughout the year – negative margins, staffing issues, inflation, unpredictable...
9 min read
By Jonathan G. Wiik, Vice President, Health Insights, FinThrive
As 2022 draws to a close, we reflect on one of the worst financial years for U.S. hospitals. The latest reports are showing the 10th straight month of negative margins, labor issues persist...
11 min read
By Jonathan G. Wiik, Vice President, Health Insights, FinThrive
2022 has been one of the worst financial years for hospitals1 and most US hospitals and health systems are in a tight spot, to put it mildly. Between lower volumes, staffing shortages,...
5 min read
FinThrive has been recognized as one of the Best Workplaces in Healthcare by Great Place to Work and Fortune. Our values –customer-centric, agile, reliable and engaged – guide us in everything that we do. These values lead us on the path to achieving our...
3 min read
Over the past 24 months, already-thin hospital margins were further exacerbated by COVID-19. Hospitals are seeing up to $50 million in revenue leakage per facility per year from underpayments from payers, poor claims management, denials, under and...
