Did you know that the reinstatement of Medicaid requirements and medical redetermination could lead to a 10% revenue loss? The reason is complex but critical to understand when overseeing Medicaid costs at a federally qualified health center (FQHC).
This article explains how medical redetermination could impact your revenue and what you can do to minimize the disruption and protect your financial stability.
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Healthcare organizations depend on revenue generation to continue providing services for their communities. When revenue lags, revenue cycle optimization can address the issue quickly as long as your billing team has enough expertise.
Medical billing is complex and there’s always the potential for mistakes to happen. Any problem can be costly for a federally qualified health center (FQHC) as it uses its scarce resources to serve medically underserved populations.
Staffing is one of the healthcare industry’s most frustrating challenges. The National Association of Community Health Centers (NACHC) reports that 68% of U.S. health centers have lost between 5% and 25% of their workers within the past 6 months. Another 15% have lost 25% to 50% of their workers during the same period.
Artificial intelligence (AI) and automation are making big changes in the medical field, reshaping how healthcare happens in the United States. A nationwide study found that 90% of healthcare companies had an automation strategy in place by the year 2020, up from 53% the year prior. Today, almost every healthcare organization is actively planning its future with AI.
Why are billing and coding such significant aspects of the AI discussion? It’s because they fit naturally into the skillset of automation.