Covid-19 has changed medical billing services. Healthcare providers around the country have been forced to rethink the most basic elements of their billing and coding. This has included everything from how to address new and emerging codes to how to keep their workers safe while still keeping medical coding and billing processes flowing.
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 .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.