About Phil C. Solomon’s Blog

by Phil C. Solomon

The Revenue Cycle News blog focuses on the most relevant news and information in healthcare finance and revenue cycle management. I am continually searching for the latest news, thought leadership ideas, and financial performance improvement strategies to help healthcare providers operate in a more patient friendly and financially sound way.

The United States has the best healthcare system in the world, and I feel compelled share ideas to help keep our hospitals, physicians, and medical billing companies as fiscally fit as possible. Providing quality healthcare is the cornerstone of our health system, yet without a systemically sound financial strategy to deliver quality services, many hospitals, medical groups and healthcare providers will feel the squeeze as reimbursements decline and uncompensated care increases.

The healthcare revenue cycle is now feeling the effects of consumerism as employers focus on containing healthcare costs so they can compete and stay solvent during today’s economic climate. How will healthcare providers address this new trend in healthcare revenue cycle management? Today’s escalating financial pressures on healthcare organizations will skyrocket as consumers take on increased financial responsibility for their healthcare services.

Providers now must become the “lead dog” of the sled as if they were racing in the Iditarod Great Sled Race and boost their capabilities and creativity in leveraging their hospital information systems and other technology solutions to improve access management, respond to healthcare consumerism, enhance cash collection, and improving payer performance.

This is a daunting task for revenue cycle executives. One must always remember, if you are not stepping outside the box and looking ahead of the pack for creative solutions, you will end up like the rest of the dogs in the sled. Consider this, unless you are the lead dog, the scenery never changes. Get out in front and stay there!

 

If you’re not the lead dog, the scenery never changes!

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