Looking back on 2022, hospitals and health systems experienced one of the worst financial years on record, according to a report by Kaufman Hall.1 At the same time, payers reported record profits, according to Becker’s.2 When healthcare providers and payer revenues are in balance, both industries benefit, as do patients.
Today’s economic imbalance indicates that providers have the opportunity to leverage strategic revenue cycle processes to recoup and rebuild revenues.
In this issue of Cycle Up, we bring you detailed information on where we are and what your enterprise can do to maximize revenues. This issue’s articles include:
- 2023 Healthcare RCM Outlook
- The Key to Maximizing Recovered Revenues from Medicare Bad Debt Claims
- Spotlight on Healthcare Partner Relationships
- Compliance News Update
- Meduit webinars: An Examination of Self-Service vs. Full-Service Patient Billing
The Meduit team exists to help hospitals, health systems and physician groups improve the revenue cycle and accelerate cash in order to advance financial health. When your organization is financially vibrant, you are able to focus your team on delivering excellence in patient care. It is our shared goal to help you get there.
I hope you find this issue of Cycle Up helpful and informative. The Meduit team is ready to serve your revenue cycle needs with leading-edge solutions that accelerate cash and stability in today’s dynamic healthcare environment.
1 https://www.kaufmanhall.com/insights/national-hospital-flash-report-november-2022. Accessed 1.06.23.
2 https://www.beckerspayer.com/payer/the-house-always-wins-health-systems-face-worst-finances-in-decades-as-payers-rake-in-record-profits.html. Accessed 1.06.23.