Revenue Cycle Management
Inpatient length of stay went up 8.7% year-over-year, but ER visits fell 15.5% and operating room minutes declined 12.2%.
The system made no furloughs as a result of COVID-19, was able to give bonuses and raises, and is on track to meet its financial baseline.
The agency is covering monoclonal antibody therapies at no cost for a broad range of providers and suppliers.
A positive side for Providence is its expanded virtual care offerings, which are expected to reach 1.4 million video visits by the end of the year.
As part of the new Patient Experience Digital Series, two clinicians explain how a virtual care model is helping more compassionately treat patients in their home communities while improving the provider experience.
For one health system, robotic process automation equates to about 27,000 hours in a month saved, which correlates to around $500,000.
When health systems have their staff manage revenue cycles, up to 25% of the day can be spent on repetitive tasks related to the revenue process.
RWJBarnabas is partnering with St. Peter's and will announce a definitive agreement to acquire Trinitas Regional Medical Center.
The American Telemedicine Association's comments focused on expanding telehealth access, changes to remote monitoring services, and the provision of telehealth in federally qualified health centers and rural health clinics.
When organizations automate their revenue cycle, they can improve their bottom line while freeing up resources to spend on value-enhancing tasks.