Latest Insights
COVID-19 Revenue Cycle Performance Metrics
One Minute with Me. Hospital and health system revenue cycle performance metrics look good in April - e.g. debit A/R is down 16.1% nationally. Is it real? No.
Excluding NYC AND SF, Hospitals losing $1.4B In Revenue Per Day Due To COVID-19 Pandemic
Outside of New York City and San Francisco, hospitals across the country are losing approximately $1.4 billion in net revenue per day due to the ongoing coronavirus disease 2019 (COVID-19) outbreak, according to a Crowe LLP report released Friday morning.
Crowe Revenue Recovery Program
Net revenue for outpatient services is down but revenue for COVID-19 patients is up. What does this mean for your hospital?
Financial Impact on Hospitals
Many hospitals are preparing for "the surge" of COVID-19 patients. What does that look like, volume-wise? Here's a health system that has been through the surge, and what volume looks like now. Cutting to the chase ... the "surge" is not revenue recovery. Not even close.
Is revenue cycle management co-sourcing the new outsourcing?
"For many situations, we recommend to health systems - don't outsource the entire process," says Brian Sanderson, National Managing Principal of Crowe Horwath LLP's Healthcare Services.
Patient Accounting System Conversion Results in Revenue Cycle Disruption at Hospitals, Data Shows
MediRevv: "The effects of a PAS conversion can have a dramatic impact on a hospital's revenue cycle. Although the long-term benefits of system conversion might outweigh the short-term challenges of implementation, the additional costs associated with implementations can be substantial if they're not tightly managed," said Brian Sanderson, managing principal of Crowe healthcare services, the organization spearheading the report.
Read the full article here.
Data Confirms Seasonality Impact on Hospital Net Revenue
Using data gathered by the Crowe Revenue Cycle Analytics (Crowe RCA) software, Crowe analyses revealed that seasonality materially affects hospital net revenue. The Crowe report, "Seasonality Has a Bigger Net Revenue Impact Than You Think," provides support for these findings.
How does seasonality affect your healthcare system’s net revenue?
One Minute with Me. For every health system finance professional who suspected that seasonality had some impact on net revenue but didn’t know how much... you were correct, and the effect is material. Crowe has studied net revenue patterns from more than 1,000 hospitals and has determined some trends that health systems may prepare for proactively—access our quarterly benchmarking report for all the analyses.
Protecting Revenue at Risk
Healthcare organization leaders should be familiar with and create strategies for effective performance under Medicare’s new “pay-for-value” quality programs.
Optimize Revenue Cycle Performance Using the Right Metrics
Healthcare organizations today are drowning in data. Data metrics help organizations assess their revenue cycle performance, but the weight of too much data – coupled with a lack of clear direction for how best to interpret and use that data – quickly can overwhelm and even paralyze organizational leadership.
In a high-deductible age, free care isn't just for poor people anymore
Crain’s Chicago Business News: “Hospitals are struggling to collect that increased patient share of the cost, said Brian Sanderson, managing principal of Crowe healthcare services group. Their data show overall managed care net revenue has declined 2.5% for outpatients and 1.4% for inpatients based on unchanged contract rates over the past year. The cause was lower collection rates for “patient responsibility” dollars than for payer responsibility dollars.”
Impact of the ACA on Patient Responsibility
(ACA) became law in January 2014, no one could accurately predict its impact. Now that the law has been in effect for nearly a year, enough data is available to assess the early results and examine the effect on patient responsibility, which is the amount that a patient owes on healthcare services rendered, excluding insurance payments. Are hospitals seeing more insured patients than they saw prior to January 2014? Has patient responsibility increased or decreased? How does each state’s decision about whether to expand Medicaid have an impact on the ACA’s stated goal of insuring more low-income Americans?
Health insurance exchanges will impact hospital revenue cycles
Healthcare Finance News: A well-managed revenue cycle would enable hospital administrators to focus on maximizing the stream of revenue created by the new healthcare insurance exchanges. Even though it has not been determined what impact the exchanges will have on hospital finances, there are steps hospitals can take to increase the likelihood of positive effects on their revenue cycles.