By Randy Salisbury, MBA
Senior Vice President and Chief Sales & Marketing Officer
Healthcare organizations nationwide continue to manage the disruption from the COVID-19 crisis. Hospital CFOs have seen an increase in costs due to drastic operational changes and greater patient complexity. They’re also bracing for a tremendous decrease in revenue due to the suspension of elective procedures. The result? Painful furloughs and layoffs with some hospitals at risk for closing their doors completely. Maintaining the safety of their community and frontline staff is paramount, but CFOs must consider how to optimize financial performance through this crisis and beyond.
Revenue integrity—the process of collecting all of the revenue to which an organization is entitled—is more important now than ever before. It’s about collecting compliant revenue that organizations have earned and that they need to pay their staff, upgrade technology, and otherwise fund their mission.