Covid-19 has had severe economic impacts on the healthcare industry and has affected the financial stability of patients. Ultimately, revenue cycle management has also been impacted by the pandemic. However, medical practices are implementing Artificial Intelligence and Machine Learning tools … Read More
Coronavirus
How to Avoid Negative Operating Margins Amid Vaccine Rollouts
Many hospitals will see negative operating margins despite the best-case scenario of smooth vaccine rollouts and reduced COVID-19 hospitalizations according to a Kaufman, Hall & Associates, LLC report released by the American Hospital Association (AHA). 39% of hospitals will operate … Read More
Effect of COVID-19 on Hospital Visit Volumes
A recent evaluation of 500 hospitals in the United States shows the volume of hospital visits leveling out below pre-COVID-19 amounts in the latter half of 2020. Experts expect these levels to serve as a new baseline for 2021 hospital … Read More
Predictive Forecasting for Pandemic Recovery
Healthcare institutions’ revenues have fallen short of expectations due to the COVID-19 pandemic. Healthcare executives have been altering processes and taking decisions on an as-needed basis during these unprecedented times. In the report “Top Health Industry Issues of 2021,” PwC’s … Read More
Vaccines Effective in Preventing COVID-19
For the past nine months, researchers have been racing to create a vaccine to effectively prevent COVID-19. Various government health agencies have come together to work towards a goal of safely distributing 300 million doses of a COVID-19 vaccine by … Read More
How to Improve COVID-19 Related Claim Denial Rates
Payers denying healthcare insurance claims is something we all are very familiar with. Whether the claims are denied for missing information, incorrect medical coding, or anything in between, 9% of claims are initially denied, on average. The national pandemic has … Read More
Medical Groups Outline Recovery Timeline From COVID-19
Medical group and health system executives believe it will take at least a full year to recover from the revenue losses due to COVID-19, according to a survey conducted by the American Medical Group Association (AMGA). The survey of 95 … Read More
Financial Impact of COVID-19 on Healthcare Ecosystems
There is no doubt COVID-19 has brought uncertainty across all areas of life. From a rising unemployment rate to extended stay-at-home orders, American citizens are wondering how to prepare for the “new normal.” Hospitals and health systems are at the … Read More
COVID-19: Provider Relief Fund
Healthcare providers have access to the Department of Health and Human Services (HHS)’s Providers Relief Fund, of approximately $100 billion, through the Coronavirus Aid, Relief, and Economic Security (CARES) Act (PL 116-136). The Providers Relief Fund assists healthcare providers with … Read More
New COVID-19 Medical Billing Codes
Medical coding is a standardized method to assign alphanumeric codes for medical diagnostics, surgical and external procedures to generate billing for an episode of care. Medical coding professionals translate the medical records and providers’ notes to create a claim to … Read More
COVID-19 Update: A Letter From Our General Manager
First and foremost, I hope you and your loved ones are healthy and safe. With the escalation in number of COVID-19 incidents in the past few weeks, it is our priority to focus on the safety and wellness of our … Read More