Many healthcare organizations struggle to retain talent. Unfortunately, this leads to big losses. A median turnover in the emergency medical services (EMS) space costs an agency $72,000, according to Prehospital Emergency Care. Meanwhile, the average cost of a turnover for a bedside RN is $52,100, causing the average hospital to lose $4.4 million to $6.9 million. Some healthcare organizations spend 5% of their annual operating budget on employee turnover and related expenses. By emphasizing employee retention and minimizing patient turnover, healthcare organizations can save millions of dollars per year. Today, we’re explaining why employees leave – and how today’s top healthcare organizations are attracting and retaining top talent. Top 3 […]

Rural hospitals are closing across the country. Naysayers may say it’s the end of rural healthcare as we know it. However, many hospitals are flipping this trend on its head. America’s best rural hospitals are thriving in uncertain times by expanding care, taking advantage of telemedicine, and specializing in in-demand areas. By taking this approach, rural hospitals have grown revenue even when dealing with aging populations, higher-than-average Medicare patient totals, and other challenges that have sunk competing providers. Today, we’re exploring four more rural hospital success stories from small towns across the United States. Gold Beach, Oregon Hospital Increases Services, Becomes Economic Driver for Region Gold Beach, Oregon is a […]

Healthcare organizations have many opportunities to train employees and enhance organizational revenue. By taking advantage of these opportunities, healthcare organizations can significantly improve their bottom line. From lean healthcare workshops to continuing education programs to other professional training systems, employee training opportunities can enhance organizational revenue in various ways. Today, we’re exploring some of the best employee training opportunities for small and large healthcare organizations. Lean Healthcare Workshops Lean healthcare workshops can singlehandedly change an organization’s bottom line. The idea of running a lean organization is nothing new in and out of healthcare – but healthcare organizations across the country are increasingly taking advantage of lean healthcare workshops to implement […]

Rural hospitals face considerable challenges throughout the country. While some rural hospitals thrive in challenging situations, others falter. Today, we’re highlighting some of the best success stories of rural hospitals across America, including situations where ingenuity, creativity, and flexibility saved small hospitals in rural settings. Rural Hospital in Beatrice, Nebraska Specializes in Healthcare for Older Adults Rural areas of America tend to have older populations than urban areas. This increases challenges for rural hospitals. It’s hard enough running a small, rural hospital. These challenges increase with older populations who have larger, more complicated healthcare needs – and who also tend to be Medicare patients. Despite these challenges, a small hospital […]

5 Ways Physicians Can Benefit from Healthcare Consulting Most people assume healthcare consulting benefits the organization – not necessarily the physicians within that organization. However, that’s not true. Physicians can and do benefit from healthcare consulting. Physicians experience actionable improvements from healthcare consulting. These improvements can benefit the organization’s bottom line, improve patient care, and make it easier for physicians to do their job. Today, we’re explaining some of the ways physicians can benefit from healthcare consulting whether running a small practice or working for a larger organization. Charge Capture Reviews Identify Missed Revenue Opportunities Healthcare consultants conduct charge capture reviews. You may not know how much you’re losing in […]

ICD-11 Medical Coding: How to Prepare your Healthcare Organization for ICD-11 Healthcare organizations in the United States and around the world use the ICD-10 medical coding standard. Starting in 2022, however, organizations will switch to the ICD-11 standard. ICD-11 has four times as many codes as ICD-10. That means new challenges for healthcare providers – and new problems with missed revenue, coding errors, and denied claims. Keep reading to discover some of the significant changes in ICD-11 medical coding, including how your organization can prepare for the release of ICD-11. What is ICD-11? The World Health Organization has created the ICD-10 medical coding standard, which is currently in use in […]

Artificial Intelligence could change Medical Coding in the future Artificial intelligence has solved countless human challenges – and medical coding might be next. As organizations prepare for ICD-11, medical coding is about to become more complicated. Healthcare organizations in the United States already manage 140,000+ codes in ICD-10. With ICD-11, that number will rise. Some propose artificial intelligence as a solution. AI could aid computer-based medical coding systems, identifying errors, enhancing patient care, and optimizing revenue cycles, among other benefits. Today, we’re highlighting some of the ways in which artificial intelligence could change medical coding in the future. How Artificial Intelligence Could Smooth the Launch of ICD-11 It’s impossible for […]

healthcare revenue cycles for organizations during COVID-19 coronavirus pandemic The COVID-19 pandemic has wreaked havoc on healthcare organizations across the United States. But as some organizations are failing, others are thriving. By capitalizing on changes, and by training staff, organizations can optimize healthcare revenue cycles throughout the coronavirus pandemic. Today, we’re highlighting five ways COVID-19 has impacted healthcare revenue cycles for organizations across the United States – and how organizations are thriving in the face of change. Telehealth Appointments & Coding Challenges Obviously, telehealth has surged in recent months. Many outpatient facilities have switched to telehealth appointments, giving patients the same quality of care via a safer, remote environment. Telehealth […]

Healthcare Revenue Cycle Management during COVID-19: Coronavirus Pandemic 97% of America’s healthcare organizations have experienced some disruption due to COVID-19. As states re-open, healthcare organizations continue to navigate healthcare revenue cycle management. Some organizations are managing more effectively than others. COVID-19 has introduced billing and coding challenges, patient financial responsibility issues, and other problems for healthcare organizations. Today, we’re explaining strategies firms are using to manage revenue cycles during the COVID-19 pandemic – including how your organization can stay ahead. Medical Coding Challenges Many organizations have faced billing and coding challenges during the COVID-19 pandemic. To navigate the pandemic, your organization needs to know what is covered by health plans […]