The HFMA-commissioned survey was released by revenue cycle management company Alpha Health. The survey included answers from 587 hospital and health system CFOs and revenue cycle leaders.
Here’s how the respondents answered the question: Which of the following affects has the COVID-19 pandemic had on your revenue cycle operations?
- Work/claim volumes have been erratic and unpredictable: 50.5 percent
- An increase in workloads due to confusion over codes and requirements for COVID-19-related claims: 37 percent
- Overstaffed due to decreases in claim volumes: 35.8 percent
- Decreases in staff productivity due to rapid and unplanned move to remote work: 34.7 percent
- Decreases in staff productivity due to layoffs, furloughs and other staff reductions: 32 percent
- Understaffed due to an increase in claim volumes: 4.2 percent
- Decreases in staff productivity due to several members of the team being sick with COVID-19: 2.9 percent
More articles on healthcare finance:
Florida hospital closes Aug. 31
CMS threatens to terminate Chicago hospital’s Medicare contract
Financial fallout from COVID-19: 38 hospitals laying off workers
At the Becker's 11th Annual IT + Revenue Cycle Conference: The Future of AI & Digital Health, taking place September 14–17 in Chicago, healthcare executives and digital leaders from across the country will come together to explore how AI, interoperability, cybersecurity, and revenue cycle innovation are transforming care delivery, strengthening financial performance, and driving the next era of digital health. Apply for complimentary registration now.