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How are top healthcare organizations optimizing revenue? Today, we’re highlighting some of the strategies firms are using to get ahead.
It’s been challenging for some healthcare organizations to keep up. However, by implementing certain strategies today, your healthcare organization can maximize revenue in 2021 and beyond.
Today, we’re highlighting the most important telehealth trends for 2021, including some of the rising and falling movements we’ve seen from telehealth in recent months.
Telehealth isn’t going away any time soon.
Telehealth was surging before the pandemic – and the pandemic pushed telehealth to new levels.
As telehealth rises in popularity, organizations are implementing telehealth in different ways. Some are investing billions into telehealth. Others are getting left behind.
Today, we’re explaining how Lean Six Sigma works in healthcare – and how it can help your organization eliminate defects.
Lean Six Sigma is a business optimization method that focuses on eliminating defects.
In healthcare, defects can be the difference between life and death. That’s why many healthcare organizations have implemented Lean Six Sigma principles.
When properly implemented, Lean Six Sigma optimizes every stage of patient care – from revenue cycles to patient outcomes.
Today, we’re highlighting some of the best digital healthcare strategies you can use to optimize revenue.
Digital healthcare and telehealth are at the top pf the list of healthcare trends in 2021.
Leading healthcare organizations have invested significantly in digital healthcare, expanding services and optimizing patient outcomes.
Other healthcare organizations are already falling behind. Since digital healthcare isn’t going away any time soon, that’s a problem.
4 More Rural Hospital Success Stories from Small Towns Across America
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 small, relatively isolated community along a picturesque section of Oregon’s southern coast. For decades, the community was served by a small, outdated facility built in the 1950s. The facility exclusively provided acute care, meaning patients had to travel long distances to access specialized medical treatment. Things became progressively worse for Gold Beach’s Curry General Hospital over the years. The facility could no longer meet local needs, and the building itself was not compliant with building doctors. The facility struggled to attract and retain doctors. Things changed when the hospital received new funding. Residents of the Curry Health District approved a $10 million fund to fund construction on the facility. The hospital received an additional $20.9 million through the USDA Rural Development’s Community Facilities Program. By taking advantage of favorable interest rates and 40-year terms, the rural district was able to afford considerable healthcare spending it would normally be unable to afford.
Kalispell, Montana Emphasizes Outdoor Lifestyle to Attract Talent
Some rural hospitals have turned a disadvantage into an opportunity. Rural hospitals can be isolated – but that doesn’t mean they can’t attract talent. Kalispell, Montana is a relatively isolated city in a picturesque corner of the state. Although isolated, the city is surrounded by world-class ski hills, Glacier National Park, multiple lakes, and considerable outdoor adventure opportunities. By emphasizing these opportunities, Kalispell has attracted high-quality medical care to the region regardless of the remoteness. On July 1, 2020, Kalispell Regional Healthcare opened the first floor of Montana Children’s. The $60 million facility was funded by debt, operating reserves, and philanthropy. The opening is a big deal for the city of Kalispell. Previously, Kalispell residents needed to visit Spokane, Washington – four hours away across multiple wintry mountain passes – to get similar patient care for children. Parents of children with chronic diseases were forced to move to Spokane, Denver, and other larger cities – or face multiple harrowing drives each winter. Now, thanks to the new opening, Kalispell residents can access quality patient care even in a relatively remote area.
North Dakota Hospital Thrives Thanks to Booming Oil and Gas Operations
In neighboring North Dakota, hospitals have faced a surge in revenue thanks to the booming oil and gas industry. North Dakota’s McKenzie County saw its population double between 2010 and 2020, due mostly to oil and gas operations in the region. As the population grew from 6,000 to over 12,000, local legislators recognized the urgent need to expand healthcare. Using federal and state loans, funding from the oil industry and private citizens, and a sales tax increase, the region opened the new McKenzie County Hospital in Watford City in June 2018. Before the opening the hospital, residents had to drive 50 minutes to access surgeries and preventative healthcare services. Today, residents of the 12,000-person county enjoy high-quality healthcare even in a relatively remote, rural setting. And, like Kalispell, McKenzie County has attracted talent by emphasizing the rural setting: “Not everybody wants to live in a city, and not everybody should, and there are great places in America that should not have to suffer with second-class health care,” explains Patsy Levang, board chair of McKenzie County Healthcare Systems, in a statement to US News.
Mississippi Town, Population 1,600, Revitalizes Local Economy with Federal Grant
Mississippi’s Field Memorial Community Hospital (FMCH) is located in a town of 1,600 residents. While other hospitals serving similarly-sized towns close down, FMCH is taking the opposite approach. Thanks to a federal grant, FMCH is building a new $21 million facility that will introduce big changes to local residents. Centreville is located about 130 miles northwest of New Orleans, and approximately one-third of residents live below the poverty line. The goal is to use FMCH as an economic driver for the region. “A lot of times in the rural communities your health care systems are your economic drivers, and that’s true here,” explains Chad Netterville, chief executive of the Field Memorial Community Hospital, in a statement to NY Times, which covered the expansion in April 2015. Today, Centreville has a 16-bed hospital thanks to the federal economic development program designed specifically to increase investment in low income communities. By targeting rural hospitals and expanding patient care, federal grants can revitalize local economies while contributing to higher-quality patient care.
Final Word
Since 2010, more than 100 rural hospitals across the country have closed down, according to a study from the University of North Carolina – Chapel Hill. While times are tough for some rural hospitals, others have succeeded despite these challenges. They’ve turned challenges into opportunities, taking risks where other hospitals are not willing. Contact HMI, LLC today for expert revenue cycle management consulting, chargemaster service consulting, coding services, and more. Founded in 1989, HMI, LLC has revitalized small and large healthcare organizations across the county.
Today, we’re explaining why employees leave – and how today’s top healthcare organizations are attracting and retaining top talent.
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.
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 hospitals face considerable challenges throughout the country. While some rural hospitals thrive in challenging situations, others falter.
Best Employee Training Opportunities to Enhance Organizational Revenue
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.
Millions of Americans depend on small, rural hospitals for healthcare. Unfortunately, due to several challenges, many of these small hospitals are struggling to survive. Today, we’re highlighting some of the best strategies today’s small, rural hospitals are using to survive
Between 2010 and 2014, 47 rural hospitals across America stopped providing inpatient services, according to a report by the Rural Health Research Gateway. An additional 673 rural hospitals are at-risk for closure. Today’s climate may seem daunting for small, rural hospitals – but it doesn’t have to be. Today, we’re highlighting some of the best strategies today’s small, rural hospitals are using to survive.
A good revenue cycle assessment will help your organization become more profitable. What actionable steps will revenue cycle assessment experts help you implement? Today, we’re explaining everything you need to know about what’s involved in a revenue cycle assessment.
Some organizations perform a revenue cycle assessment on their overall organization, hiring a consulting company to conduct a bottom-to-top assessment.
Today, we’re highlighting some of the best telehealth coding and billing practices for the COVID-19 coronavirus pandemic, including changes to be aware of. Healthcare organizations have turned to telehealth coding and billing during COVID-19 pandemic.
Healthcare organizations have turned to telehealth during the COVID-19 pandemic. However, some are not prepared to handle telehealth coding and billing. Demand for contract medical coding experts is surging. Companies like HMI Corp can help your organization manage complicated COVID-19-related telehealth coding. Our coding experts have proven expertise across the United States.
Good medical coding companies work with healthcare organizations to solve inefficiencies and reduce errors. Effective medical coding tips helps a company avoid wastage, capture lost revenue, and reduce patient conflicts to help your organization manage the Coronavirus COVID-19 pandemic.
Demand for medical coding companies has surged in recent months. COVID-19 has revealed medical coding inefficiencies, and firms are struggling to keep up. Your healthcare organization might have effective medical coding systems in place. Unfortunately, a pandemic like COVID-19 can reveal problems with any organization’s medical coding. The CDC, CMS, and AMA have all released COVID-19 coding guidelines in recent weeks. We’ll summarize that information below to help your organization manage the COVID-19 pandemic.
healthcare organizations continue to navigate healthcare revenue cycle management. Today, we’re explaining strategies firms are using to manage revenue cycles during the COVID-19 pandemic including how your organization can stay ahead.
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 highlighting five ways COVID-19 has impacted healthcare revenue cycles for organizations across the United States. how organizations are thriving in the face of change.
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 explaining some of the ways physicians can benefit from healthcare consulting whether running a small practice or working for a larger organization.
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.
Healthcare organizations in the United States and around the world use the ICD-10 medical coding standard. 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.
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.