New HIMSS Media research identifies current hospital revenue cycle vulnerabilities and opportunities.
As the diagnosis-related group (DRG) payment system marks its 36th anniversary, approximately two-thirds of the nation’s hospital and acute-care facility leaders believe DRG optimization is still a problem to be solved.
With hospitals and acute-care facilities under increasing pressure to optimize the revenue cycle, BESLER and HIMSS Media conducted a new study to identify the biggest industry challenges and potential opportunities for improvement. The study included over 100 respondents employed in leadership roles within finance, revenue cycle, reimbursement, and health information management (HIM) in U.S. hospitals and acute-care facilities.
We explore the details of the study findings, including:
- The top healthcare revenue cycle management issues facing hospitals today
- Key areas of vulnerability for lost or decreased revenue
- The disconnect between current revenue cycle solutions and achieving diagnosis-related group (DRG) optimization
- Perspectives on the value of revenue integrity programs and what they can achieve
The bottom line: While there are still big gaps in hospital revenue cycle optimization there are also great opportunities out there to increase revenue and lower compliance risks. With the right processes and third-party partner support, hospitals can help stop revenue loss and collect more of the money they deserve for the care they provide.