What We’re Reading: February 2023
Noteworthy news and analysis selected by Cloudmed RCM experts
People Have Less Trouble Paying Medical Bills, But Concerns Remain
RevCycle Intelligence | January 18, 2023
Americans have become better at avoiding medical debt lately, and one of the ways providers have been helping is by implementing technology to make bill payment easier and more convenient for patients. But there’s also potential trouble on the horizon as a recent Gallup poll shows more Americans than ever postponed medical treatment due to high costs. Be on the lookout in 2023 for even more technology and innovation in the sector that can further streamline and automate the medical billing process.
Healthcare Company Bankruptcies up 84% in 2022
Healthcare Dive | January 17, 2023
The COVID hangover continues to linger, driving up bankruptcies in the broad healthcare sector last year. Hospitals made up about 13% of healthcare company bankruptcies in 2022, the third highest in the report. Senior care companies fared worst financially, accounting for 26% of bankruptcy filings; pharmaceutical companies accounted for about 23% of filings. With continued staffing shortages, cost increases, and inflation at the close of 2022, providers are interested in making sure revenue and other finances are handled as efficiently as possible to reduce dangerous waste.
6 Revenue Cycle Trends You Need to Track in 2023
Health Leaders Media | January 12, 2023
Are you surprised by the headaches the No Surprises Act is causing? How are you dealing with ongoing labor shortages and RCM skill deficits? What’s your strategy for preventing payer denials? Health Leaders Media Revenue Cycle Editor Amanda Norris outlines what industry trends RCM professionals should look out for in the new year, including payer compliance and how to improve the patient financial experience, as well as leadership and workforce trends to ensure teams operate smoothly in 2023.
