Revenue Cycle 101
Hospitals could save $1 million to $10 million per institution per year if it did not take so much work to
get money from insurance companies, according to a survey of executives.
get money from insurance companies, according to a survey of executives.
Industry
Like all of us, healthcare organizations are continually pursuing ways to reign in the increasing cost of doing business. At the same time, they are trying to increase revenue in order to expand their services, provide competitive salaries and benefits to their employees, and offer community services and programs to their patients that promote healthy living.
During every budget season, healthcare providers are faced with the question, “Where and how do we maximize our budget dollars?” Because they drive revenue, patient and clinical services always come out on top when it comes to allocating larger budgets. But ancillary departments are cost centers, too, and these areas are always under budget scrutiny—and always looking for cost-effective ways to maximize productivity.
During every budget season, healthcare providers are faced with the question, “Where and how do we maximize our budget dollars?” Because they drive revenue, patient and clinical services always come out on top when it comes to allocating larger budgets. But ancillary departments are cost centers, too, and these areas are always under budget scrutiny—and always looking for cost-effective ways to maximize productivity.