Strategic steps health service organizations can take to recover revenue lost during the pandemic.

1. Review unpaid and unfiled insurance claims.

2. List your top 3 most profitable patients but remember the highest revenue is not always = most profitable.

3. Use your EHR to create a report identifying those patients who need to complete the most profitable procedures eg the Humana type.

4. Run a real-time benefits check to see who has remaining insurance benefits.

5. Personally call your patients to check up on them and share updates on remaining insurance benefits.

6. For open calendar slots ask staff to prioritize patients in the report alongside those displaced during the office closure and consider expanded work hours.

More specific to Hospitals:

Primary:

1.Use of “digital strategies,” such as telehealth and contact centers.

Secondary:

1.Using service line strategies, such as growing core businesses and exiting losing businesses

2. Pursuing revenue cycle improvement, such as enhancing accounts receivable collections

3. Pursuing payer-rate negotiations.

4. Asking health plans to take on the collection of all out-of-pocket costs

5. Thoughtfully moving to artificial intelligence and remote process automation to increase revenue cycle efficiency.

The common thread: "If you haven’t figured out how to engage technology as much as you can, now is the time."