COVID-19 and its Impact on Medical Billing
How the pandemic is creating unique challenges around medical billing and coding
Healthcare providers are more active than ever in response to the outbreak and it’s having a significant impact on the healthcare revenue cycle and provider finances. Keeping the billing office running is key to keeping hospitals and practices open, especially during the outbreak. But this can especially be difficult for smaller practices with limited resources on hand to respond to COVID-19 demands.
Despite the gradual and cautious reopening of states, social distancing and public fear continue to reduce demand for hospital services. A recent estimate has indicated that a typical hospital system of 1,000 beds with a moderate surge in COVID-19 patients may lose 50% of its quarterly revenue. Because of the pandemic, some hospitals with reduced billing department staff are feeling the strain as billing continues to come in.
Fortunately, the U.S. Centers for Medicare & Medicaid (CMS) and The American Medical Association (AMA) have been at the forefront of helping providers with the coding and reporting aspects of COVID-10 testing and treatment. However, with new codes and procedures comes new complexities.
The Hawthorn Solution
During this time of crisis, Hawthorn has been supporting hospitals and practices whose billing staff had unfortunately been affected by COVID-19, those that have been forced to make layoffs, and those whose staff had simply been underperforming.
Our objective is to maximize your reimbursements and increase your profitability. As a billing services company, we use your hospital’s or practice’s own billing software from the safety of our own offices. Our team of healthcare revenue cycle management professionals are highly trained and routinely audited internally to consistently produce the best results possible.
We are here to help boost your revenue. Click here to learn more about our services and what we can do for your practice.
About Hawthorn
Hawthorn Physician Services Corporation is a privately-held, nationally-recognized healthcare revenue cycle management firm located in St. Louis, MO and currently operating in all 50 states. Hawthorn serves hospital-based medical practices, including pathologists, anesthesiologists, radiologists, hospitalists, emergency physicians, and radiation oncologists, plus office-based specialties, including internists, cardiologists, endocrinologists, wound care specialists, and infectious-disease physicians.
