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11 min read
Welcome to the third quarter 2023 edition of the healthcare industry insights! Continued recovery is occurring as we start to close out 2023. Per normalized data from the September KaufmanHall report, we have seen over seven months of positive margins....
9 min read
By Jonathan G. Wiik, Vice President, Health Insights, FinThrive
5 min read
By Jonathan G. Wiik, Vice President, Health Insights, FinThrive
The 2023 HFMA Region 8 Mid-America Summer Institute (MASI) was a great educational conference. There were about 400 folks in attendance, ranging from large health systems and critical access...
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...
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...
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...
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...
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...
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,...
6 min read
The Great Resignation has hit the healthcare industry from all angles. The loss of clinical staff has hurt the frontline of many health systems.
However, what many do not realize is that revenue cycle teams are inundated with claims, denials and requests...
6 min read
A lot has changed with revenue management in the last three years, especially the transition from traditional onsite employees to remote employees, leading to persistent staffing gaps.
5 min read
In May 2022, more than 400 healthcare finance leaders reported revenue cycle workforce shortages, with almost 20% seeing 30 or more vacancies.
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
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...
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
To improve patient financial experiences and protect profitability, healthcare financial leaders need a strategy that focuses on end-to-end revenue management.
