Revenue Cycle Outlook for 2022

COVID-19 has unleashed challenges unlike any that our healthcare system has experienced in at least 100 years. Hospitals and health systems are tasked with serving more patients than they are designed to handle. While our healthcare providers have demonstrated a steadfast commitment to ensuring their patients’ health along with the financial health of their organizations, all are overworked and many face burnout.
Throughout 2022, digital technologies and artificial intelligence (AI) are key to recovering organizational financial health and mitigating pressure on internal staff.

These technologies:

• Supplement the workforce by working in parallel with staff to perform functions that have suffered from reductions by attrition, illness and burnout
• Reduce enterprise costs by allowing full-time employees to be redirected to more complex tasks while technology handles repetitive jobs
• Drive efficiencies through reduced human touches, improved accuracy and greater revenue to the bottom line in a shorter time

Throughout 2022, I expect that we’ll see that organizations that are able to most effectively utilize digital and AI technologies will be better positioned for long-term stability and success.

At Meduit, we continue to develop and deliver innovative revenue cycle management (RCM) solutions that help our clients ensure their financial health so they can focus on patient care. In this issue of Cycle Up, you’ll find articles that address strategies for:

• Covering the Full Revenue Cycle Back End
• Positive Patient Financial Engagement
• Medicare Bad Debt
• Staffing Challenges in the COVID-19 Era

I hope you find this issue of Cycle Up informative and helpful. The Meduit team looks forward to serving your RCM needs with our complete slate of offerings designed to ensure your organization’s financial health.