Tips for Recouping Lost Revenue From COVID-19 Pandemic
The past few months of the pandemic have brought many challenges to physician practices, especially small, independent providers operating outside the domains of COVID-19 treatment. Fewer outpatient visits—and even fewer procedures—over the past several months have led to serious financial hardship for many providers. Practices that will stay afloat during this challenging time are doing so strategically. Many are also capitalizing on telehealth services, reconfiguring staffing and scheduling hours, and making revenue cycle management improvements to optimize collections performance.
Practices will need to plan and think creatively about ways to capture as much patient volume as possible. Here’s a closer look at some strategies for accomplishing this.
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