Every dollar matters in hospital operations, making revenue cycle management a critical safeguard for financial stability. Accounts Receivable (AR) recovery, often viewed as a back-office function, is in reality a critical driver of financial health. As regulatory demands escalate and payer systems grow more intricate, CFOs must understand the shifting dynamics of AR recovery services for hospitals and the strategic implications of partnering with specialized service providers. Failing to address AR effectively can lead to significant unrecovered revenue, impacting essential assets and hindering a hospital's ability to serve its community. This article outlines what CFOs need to know before entrusting this vital function to a third party.
Have you noticed a recent rise in reimbursement claims denials? Denied claims are increasing across the U.S., creating a frustrating and precarious situation for regional hospitals.
There are more than 8,400 regional hospitals in the U.S., which is down from about 9,000 a decade ago, but slightly up since 2020. Regional and rural hospitals face a harsh set of circumstances different from major metropolitan areas.