How can healthcare providers prepare for a recession?

COVID-19 has ripped through healthcare revenue cycles. The pandemic itself could cost hospitals $200 billion over a four-month period.

With electives hitting the bottom line, people falling off payroll, and provider cashflow taking a hit, the post-pandemic world for healthcare will be challenging. Optimizing patient collections is key to preventing revenue from slipping through the cracks.

In this comprehensive eBook, we provide your recession-ready collections checklist, exploring four ways healthcare providers can increase patient collections and guard against recession:

  • A compassionate billing approach: offering personalized communications and payment options
  • Automated coverage discovery: find missing and forgotten coverage so claims are accurate the first time
  • A collections strategy that includes credit data: include valuable insight about a patient's propensity to pay
  • Get patients on the right plan and check for charity care ASAP: identify patients who need extra support and connect them with the right financial assistance program

Let’s look at how healthcare providers can optimize patient collections and build a resilient revenue cycle, whatever the future holds.
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