The answer is yes!
I am hearing some conversations about how hospitals have ‘exhausted’ all of the opportunities around revenue cycle and must now focus on operational efficiency in order to improve profitability. But as I interact with hospitals, I still find that there is opportunity in both arenas. One hospital had not adjusted its prices to the market for some years. Another hospital was missing charges in a key area on a regular basis. Still another hospital had not addressed the throughput opportunities at discharge.
Why do we sometimes see revenue cycle and operational efficiency as either/or propositions. Is it the way we structure our departments? Is it a matter of getting the ‘low-hanging’ fruit first?
How can we keep our eye on both of these bouncing balls?