Healthcare costs are expected to rise a whopping 7% next year, according to a new report by PricewaterhouseCoopers (PwC), which also reports that hospitals and physician groups are turning to contract renegotiations with health insurance companies to close the gap.  

U.S. hospitals and health systems are still struggling with staffing shortages, creating challenges for delivering patient care and negatively impacting the revenue cycle. The staffing crunch means fewer human resources are available to resolve accounts receivable and drive needed revenue. This is where artificial intelligence (AI) solutions can help.

The federal government’s “continuous enrollment provision,” which was part of the Families First Corona Virus Response Act that went into effect in March 2020, has now ended. As a result, more than a million people with Medicaid have lost coverage as of June 12, 2023, according to a new article in Becker’s. 

Is your hospital, health system or physician group challenged by thin financial margins and staffing shortages? Meduit can help with our Extended Business Office (EBO) services. We work as a seamless extension of your business office to streamline your revenue cycle processes, improve cash flow, reduce AR days and enhance the overall financial health of the organization. 

Hospitals and health systems across the country are struggling with thin financial margins and staffing shortages that negatively impact the revenue cycle. That is why Meduit has just launched Season 3 of our award-winning podcast series with Episode 1 – Outsourcing Insurance Accounts for Maximum Cash Flow.

Razor-thin margins and staffing shortages continue to negatively impact hospitals, health systems and physician groups. To trim costs, many healthcare organizations squeeze their revenue cycle management (RCM) budgets and opt for low-budget solutions that only deliver short-term gain.

Resolving accounts receivable in a timely manner to maximize revenues is a common challenge among healthcare organizations. That was the case with the University of California San Francisco (UCSF) and Marin Health.

Hospitals and health systems continue to struggle with staffing and revenue cycle challenges in the post-COVID-19 era. Children’s Hospital of Orange County (CHOC) CA is no exception. CHOC leadership wanted to explore how artificial intelligence (AI) could:

While 2022 was the worst financial year in history for hospitals, health systems and physician groups, the good news is that there is no better time than now to recover missed revenues. In fact, most provider organizations are owed millions of dollars that they either are not aware of or don’t have the staff and technology to recover.

Rising deductibles and the increased financial burden placed on patients have made it more difficult for patients to pay their medical bills, impacting healthcare providers’ ability to collect outstanding revenues.