Friday, July 21, 2017
Hospital Revenue Cycle Management Performance Can Be Improved by Looking Inwards
One healthcare executive has stated that hospitals ought to focus more on internal factors versus external ones when it comes to working on a hospital revenue cycle management turnaround. That means that healthcare executives should stop blaming market factors for their unimpressive hospital revenue cycle performance. Instead, they should turn their attention to shrinking hospital margins and lagging accounts receivable.
Per Healthcare Management Partners Managing Director Derek Pierce, if a hospital is unable to collect their cash quickly enough, it may mean that management is not focusing on the right things. That’s exactly why when certain key hospital revenue cycle performance metrics appear to be declining, Pierce advises hospital executives to turn to their internal management processes to start their turnaround. Read more from this blog: http://bit.ly/2wlrvte