Ask any revenue cycle professional in the long-term post-acute care (LTPAC) realm how the coronavirus (COVID-19) pandemic has impacted their organization’s revenue, and you’ll likely get exasperated looks, and very similar answers. The pandemic – unprecedented in our time – has caused financial and operational disruptions – and particularly cash flow problems – that have put many operators in dire straits.
Long-term post-acute care (LTPAC) organizations of all sizes and shapes should be singularly focused on the mission of optimizing patient care and enhancing outcomes. Yet, to pursue this, it’s vital that your organization operate efficiently—and a big part of that entails collecting all revenue owed in a consistent manner.
At Richter, we’ve seen far too many LTPACs suffer the harmful effects of uncollected revenue. As a result, they put themselves at risk for financial instability—and that, in turn, puts their mission at risk.
Topics: long term care consulting services, skilled nursing facility consultants, SNF Consultants, long term revenue cycle management, healthcare revenue cycle management services, revenue cycle billing