When budgets are tight, leaders need to be strategic when investing in technology. Because cost efficiency is so important, healthcare systems and hospitals alike need to get a lot of bang for their buck when considering technology - ROI is always key.
Nicole Clawson, VP of Finance and Revenue Cycle at Pennsylvania Mountains Healthcare Alliance (PMHA), feels these same pressures at her health system - a collaborative network of independent community hospitals located primarily in Western and Central Pennsylvania.
Read the exclusive HealthLeaders Revenue Cycle Technology Week eBook to hear Clawson detail the health system's quest to secure more revenue, reduce denials, and support better outcomes.
This report, based on a survey of 200 healthcare employees responsible for staffing the revenue cycle function at healthcare providers, examined the long-standing, chronic shortage of non-clinical staff within the healthcare vertical and its impact on the revenue cycle and patient engagement.
Preparing claims correctly and modifying and resubmitting claims in the case of denials require a significant amount of time. Staffing shortages are leaving this work to be managed by fewer individuals, resulting in reduced productivity and increased risk of errors – and revenue loss.
Similarly, in most provider operations, patient intake suffers significantly from staffing shortages, affecting both employees and the patients they serve, leading to negative reputational impacts and compromised performance in patient collections.
The situation was concerning prior to the pandemic; it is now unsustainable for a significant number of providers, particularly as this report shows the most common ways to address the issue rely on increased labor costs. Turnover, hiring, and training staff are constant for these organizations, without an end in sight.
Sample findings:
100% of respondents indicated that staffing shortages have impacted revenue cycle management and/or patient engagement efforts.
96% of respondents indicated that payer reimbursements, patient collections - or both -- were impacted by staff shortages.
More than 8 out of 10 respondents say the patient experience is worse due to staffing shortages.
92% of respondents say new staff members make errors that negatively affect claims.
Healthcare organizations have struggled to address staff turnover, vacancies and the overreliance on agencies for the past three years.
This white paper outlines how one of the top academic medical centers in the nation used innovative enterprise workforce management approaches to address these challenges, including establishing an internal agency pool. See how the organization optimized its use of external agencies and travelers while achieving an 86 percent registered nurse fill rate consistently over the course of 2022.
Salucro's Patient Payment Technology Report is designed to give healthcare leadership and their revenue cycle teams a panoramic view of patient payment and billing preferences – and how to take action to create a world class patient financial experience.
As healthcare providers continue to invest in tools and implement strategies to keep up with the pace of change, the goal remains a seamless and efficient process for patients and providers.
As a senior healthcare executive managing a skilled team, you know how to keep your organization running smoothly.
But who do you turn to when you face obstacles to long-term growth? If you're looking to drive innovation and transform your operations from the ground up, you need deep expertise in digitization.
Download this guide to find knowledge and toolsets from experts to aid in digital transformation.