QHR Health: Pervasive Hospital Challenges Demand Focus on Revenue Cycle Management

BRENTWOOD, TN – As the COVID-19 pandemic enters its third year, independent, community hospitals remain under extreme pressure. The Kaufman Hall March 2022 National Hospital Flash Report found, “2022 is off to a bad start for U.S. hospitals and health systems. Hospital operating margins remained in the red for a second consecutive month in February as healthcare providers continued to feel the repercussions of the Omicron surge.” Hospitals also are confronting increasing expenses due to supply chain disruptions, workforce shortages and higher labor costs.

“Hospitals continue to be challenged by the COVID-19 pandemic, lower operating margins, labor shortages and surprise billing regulations,” said Peter Miessner, Vice President, ResolutionRCMTM, a QHR Health subsidiary. “That’s why they need to be laser-focused on efficient and effective revenue cycle management.”

In a recent article, QHR Health, a leading shared service solutions provider strengthening independent community healthcare, shared five essential revenue cycle management insights including:

  • Determine Your Cost to Collect (It May Be More Than You Think)

For many hospitals, the actual cost of collections is close to 12 percent of the revenue being collected—far more than the elusive industry ideal of 4 percent.

  • Accelerate Cash on Flat Revenue, Reducing Discharged Not Final Billed (DNFB)

To speed up reimbursement and improve cash flow without sacrificing coding accuracy, hospitals need to fix the front end of the revenue cycle.

  • Get in Line with Reimbursement Changes

Changes to federal reimbursement regulations and surprise billing provisions can impact the finances of independent community hospitals.

To read the article, 5 Essential Revenue Cycle Management Insights for Independent Hospitals, click here.

ABOUT QHR HEALTH

QHR Health strengthens independent community healthcare as the industry’s leading health solutions provider serving independent, critical access and rural hospitals and health systems across the U.S. For more than 40 years, QHR Health has collaborated with clients to ensure that people in communities, ranging from small rural towns to larger population centers, have local access to quality healthcare services. To learn more, visit QHR.com (https://qhr.com) or connect with us on LinkedIn and Twitter.

Contact:
Andrea Durkin
adurkin@qhr.com
603.828.2263