During the height of the COVID-19 pandemic, patient volume declined by 60%, overall claims volume decreased, and revenue plummeted for healthcare organizations and hospitals nationwide. However, insurers were paying for virus treatment and testing services, which helped offset some of the financial impacts of the epidemic.
Most hospitals have been feeling the effects of ongoing staffing challenges. Hospitals across the nation are struggling to hire and retain both frontline care providers and administrative talent like accounting personnel.
A revolutionary new AI tool is poised to change how healthcare organizations manage revenue recovery and protect cash flow.