healthcare financial management association
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This survey of 144 provider executives reveals their top digital and IT investment priorities for 2024 and associated challenges, opportunities, and goals.
HFMA, with sponsorship from Guidehouse, surveyed 144 healthcare executives to understand their digital and IT investment priorities going into 2024. The survey found that 85% expected their organization’s digital and technology budget to increase in 2024. The top three priorities for investment included: cybersecurity infrastructure, EHR integration and modernization, and digital front door or virtual…
Dive into the critical questions every RCM leader should ask about their claims and clearinghouse vendor.
This whitepaper is a buyer’s guide to assist in understanding the benefits of how adopting new technology to increase patient financial engagement can improve the bottom line while improving the patient experience:
It seems as if commercial payers are doing all they can to keep from reimbursing providers in a timely manner. According to a recent report by Crowe, 31% of claims submitted to commercial payers in the first quarter of 2023 were not paid for at least three months, as compared with 12% of Medicare claims.…
By now, most health systems are familiar with the term payvider, and many are weighing the pros and cons of initiating their own payvider solution. The critical tipping point to act may well be here today, as health systems feel increased pressure to make greater financial and strategic impact for their organizations even as conditions…
In efforts to control costs and help ensure greater control and access to flexible staffing solutions, some health systems are establishing internal agencies. Organizations that find success with this strategy will be the ones that take a strategic approach to its formation, as well as leverage the necessary technologies to support all components. This resource…
Recent industry trends indicate the challenge of self-pay collections within the revenue cycle management (RCM) space will continue to rise, driven primarily by the increasing number of consumers opting for high deductible health plans. Effective collections strategies require additional expertise to focus efforts where there is a higher return on investment. It’s time-consuming to chase…
Improving financial performance and operating margins has become one of the most pressing concerns for health system CEOs. To meet future margin targets, leaders will have to bring a new level of focus, resources and structure to achieve deeper cost reductions on a recurring basis. At the same time, this is critical to ensuring that…
Providers and payers have become more collaborative as payment models evolve toward value. Still, payer-provider relationships can seem one-sided — decidedly in favor of the payer — as hospitals continue to face declining reimbursement and rising costs. The increase in denials is a great example, with rates skyrocketing by 20% over 5 years, according to…
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