If hospitals wish to maintain or improve profitability, there are certain things they need to keep an eye on when it comes to revenue cycle management. There are specific metrics that can be monitored which will allow hospitals to get the maximum amount of reimbursement possible, as well as enhancing the effectiveness of their billing departments. In general, the metrics that will enable hospitals to do this are ones that will push them to surpass what is already of expected of them.
These metrics are not all created equally, however; some of them must be checked on every day, while others might only require a quarterly or even an annual checkup. Let’s take a look at five different metrics hospitals should monitor in order to help ensure that they are moving in the right direction and maintaining their profitability.