The stress of front-line providers has justifiably gotten large amounts of attention. But at the same time, hospitals and health systems are fighting a silent battle — one that will impact the revenue cycle for months, and possibly years into the future.
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.
Billing and coding for home health and hospice is only becoming more complicated. As we move forward into a new year with new challenges, it will be critical for providers across the board to establish strong best practices to optimize reimbursement, increase accuracy, and avoid audits.
Outsourcing is changing — possibly more in home health billing services than anywhere else.
The assumptions and practices that were true a few years ago have shifted thanks to technology and general changes in the industry.
The dust still hasn’t settled on the Patient-Driven Groupings Model (PDGM), but this doesn’t mean that you can’t start putting together a strategy today that will protect your bottom line. As a matter of fact, getting an early start is even more important.
