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7 min read
In the healthcare industry, compliance is essential to protect providers from potential and significant legal or financial risks. However, compliance can also serve as a cornerstone for building revenue, cutting costs and delivering exceptional patient...
5 min read
A recent report by The Kaiser Family Foundation showed that claim denials are on the rise, with some plans reaching up to 80% in denials. Based on these findings, combined with a shifting payer mix, it’s estimated that 52% of patients will have...
8 min read
On May 11, 2023, the federal Public Health Emergency (PHE) will expire, and along with the Consolidated Omnibus Act, will impact coverage for millions of Americans on Medicaid. This is arguably the biggest thing to happen to Medicaid since the passing of...
6 min read
Hospitals grapple with many complex issues that impact their financial health—staffing shortages, policy changes, retail competitors. However, one of the top financial impacts is fairly simple: missed insurance reimbursement due to eligibility denials.
8 min read
Medical debt is more than a financial problem. Research is beginning to show that, for millions of Americans, medical debt leads to poor health outcomes.
6 min read
The Father of Population Health says America needs a new strategy for primary care.
12 min read
From top analysts to hospital board rooms, healthcare leaders have emphasized a consistent theme for 2023: an end-to-end approach to revenue cycle management (RCM). End-to-end capabilities featured prominently in the Everest Group’s recent Revenue Cycle...
6 min read
Approximately 20% of the new drugs approved in the last several years have known racial and ethnic differences in disposition. Still, the most recent data snapshot on diversity and inclusion from the U.S. Food & Drug Administration revealed that 75% of...
7 min read
Health organizations are zeroing in on Social Determinants of Health, removing socioeconomic barriers to healthcare and social services in order to improve patient outcomes. In the process, they’re also improving the financial health of the entire...
6 min read
If we were designing the healthcare system from scratch, Brook Ward says most of us would have a clear vision for what it should look like.
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...
5 min read
By Sherry Nardi, Solution Strategy Director, FinThrive
Maintaining a healthy chargemaster is a key component to preventing revenue leakage but can also be labor intensive and time-consuming. With thousands of ongoing line-item updates, limited staff and...
9 min read
For those who question the far-reaching impact of political determinants of health, Population Health Professor Geoffrey Roche recounts this story:
7 min read
Let’s be honest: navigating healthcare is a difficult and stressful experience for consumers. At a time when almost everything in our lives has gone digital – booking flights, making dinner reservations, getting a ride, ordering groceries, you name it –...
8 min read
While the “Great Resignation” of the post-COVID era has strained virtually every industry, healthcare sits on top of the list. Providers have lost 20-30% of their workforce since 2020, and the projections to return to normal range estimate several years...
5 min read
For modern healthcare to realize its true potential, revenue cycle management needs a new vision. The future requires a connected and holistic approach that empowers the providers, payers and patients who make the healthcare economy. Current processes...
6 min read
At Becker’s 7th Annual HIT RCM Conference in Chicago, FinThrive’s Chief Innovation Officer John Yount was joined by Brad Tinnermon, VP of Revenue Cycle and Revenue Integrity at Banner Health, and Matt Leary, VP of Finance at Centura Health. Read on to...
4 min read
A consumer-centric patient financial experience is critical. While other industries have mastered the art of customer engagement, hospitals and healthcare systems are largely behind in terms of meeting customers where they’re at. Per a NextGen survey,...
6 min read
The benefits of automating your revenue management processes are clear. From reduced costs to enhanced care, happier patients to more satisfied staff, automation delivers measurable value at each stage of the revenue cycle.
While healthcare leaders...
8 min read
Today’s health care leaders know that tackling unchecked costs requires innovation and digital transformation. But where do you start? Automation has virtually infinite applications across the revenue cycle – where will it make the greatest impact?
We...
6 min read
The current state of healthcare is incredibly costly for providers, payers, and patients. In 2020, hospitals lost $42.7 billion to uncompensated care. They spent $500B on administrative costs, $395B on waste, and $90B on inflated pricing. Payment cycle...
4 min read
So much of our overall health is impacted by various socioeconomic factors, which don’t involve ever stepping foot into a doctor’s office, clinic or hospital. Social determinants of health—commonly referred to as SDOH—and healthcare utilization have an...
5 min read
Ongoing COVID-19 challenges and its emerging aftermath have left people struggling—financially, personally and socially. Especially those most vulnerable. Given how closely financial health is linked to overall wellness,1 it’s important to recognize that...
4 min read
Good RCM = Good REM for CFOs
Healthcare is one of the hardest hit sectors amid COVID-19 and the “Great Resignation.” The industry has lost an estimated 20% of its workforce since 2020.1 Burnout, fear of exposure to COVID-19, salary offerings, and a focus...
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...
5 min read
Uncompensated care is a universal pain point for healthcare organizations—rising by $1.1 billion in 2020 to $42.7 billion.1 And while it may not be possible to eliminate it, there are initiatives you can put in place today to lessen its impact.
4 min read
For a hospital CFO, the COVID-19 pandemic shifted priorities and emphasized cost containment and innovation in reimbursement models. It has forced leaders to take a hard look at their revenue management processes. In fact, per a recent...
4 min read
In 2020, 47% of hospitals saw increases in bad debt and uncompensated care.1 Incomplete or inaccurate patient demographic information, an unverified primary payer, resource constraints and more contribute to this deficit. At a time when margins are...
4 min read
To improve patient financial experiences and protect profitability, healthcare financial leaders need a strategy that focuses on end-to-end revenue management.
3 min read
In 2020, hospitals across the U.S. saw their median operating margin drop by 55.6%.1 The Coronavirus Aid, Relief, and Economic Security Act (CARES) helped offset escalating expenses, but the pandemic hasn’t been the only factor contributing to ongoing...
