Leverage Patient Bad Debt to Increase Revenue and Yield In our increasingly data-driven healthcare environment, effective financial management requires timely analysis of Key Performance Indicators (KPI). But it’s essential to track the metrics that give you the most complete picture of your revenue cycle. Traditionally, healthcare finance executives looked at “days in A/R” and “aged receivables”… Read more »
Fewer than 20% of hospitals do anything to collect patient bad debt accounts except to “Set ‘em and Forget ‘em” with one or two primary collection agencies at about day 120. Unpaid patient accounts languish with contingency collection agencies indefinitely while hospitals recover only 10% of bad debt according to a Self-Pay study by HFMA… Read more »
We speak with lots of healthcare CFOs and revenue cycle executives who constantly deal with multiple competing priority projects. While juggling priorities, a consistent goal is to make sound decisions based on meaningful information. Many priority projects are chock-full of estimates and assumptions. They would hypothetically increase revenue but only after new systems, training, or… Read more »
