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Improving efficiency helps counteract industry challenges

With sweeping changes to the health care industry including significant cuts to hospital reimbursement at the state and federal levels, hospitals today are challenged to “do more with less.”  In order to counter the effects of lower reimbursement, health care organizations should be aggressively seeking efficient strategies and solutions to lower their operating costs. One way to increase operational efficiency is to evaluate the functions within your business office.  New technology-driven solutions are now available to enable greater workflow efficiencies and boost your revenue cycle performance. In fact, HealthTech Solutions Group® has found that collectors that use its HTSG AlphaCollector™ virtual business office platform increase the number of accounts they work by 33 percent. With the average account value at $2,500, that equates to an increase of nearly $500,000 per collector per month. In addition, HealthTech found by segregating workflows by experience level, organizations were able to save up to 30 percent in their hourly collections rate. With solutions such as HTSG AlphaCollector™, hospitals can significantly improve their revenue cycle to help sustain a healthy, viable future.