Managing medical billing accounts receivable is a critical aspect of any healthcare practice. Effective management ensures that the practice maintains a steady cash flow, which is essential for its smooth operation. However, managing these accounts can be challenging due to the complexities involved in healthcare billing. This is where 3Gen Consulting comes
Hospital A/R services are a complex mix of moving parts. Revenue cycle leaders who have found even small issues in their A/R face a decision-making process that covers the end-to-end revenue cycle, including patient registration and eligibility, POS collections, billing, and beyond.
Hospitals are under more pressure than ever to reduce costs.
A Kaufman Hall analysis of about 800 hospitals found a 21.3% decline in operating margins, and a 14.5% decrease in EBITDA operating margins between November 2018 and the same month in 2019 [1].While the results varied regionally, the message was clear — many hospital decision-makers across the country face increased pressure to bend the cost curve and do more with less.
Hospital CFOs are facing challenges that are becoming more complex and increasingly tied to other organizational initiatives. As your organization addresses new forms of competition, navigates the consumerization of healthcare, and finds its way in the wake of new payment and medical billing practices, it will be crucial to pinpoint the KPIs that align with your goals.
