During this current COVID-19 pandemic, physician practices across the country are experiencing significant challenges that have sprung up quickly. Significant financial challenges have burdened many practices, with most reporting significant financial impacts on revenue and in patient volume.
These financial struggles have forced many physician practices to go to drastic measures and layoff or furlough their staff, causing more stress as more uncertainties arise, piling onto physicians’ burdens during this pressing time.
Paola Turchi, MSHCA, CHFP, CMPE, CPC, with Allscripts has provided significant insight into the considerations that physicians practices must take into account when dealing with the impact of COVID-19 on their revenue cycle. Touching on major areas where organization leaders should focus on, Turchi offers insight into how to stay on top of the challenges and to brace the practice for a possible second wave of the virus.
In an article published on Allscripts’ website, Turchi outlines the major considerations that physicians practices should consider in terms of coding, accounts receivable management, schedule volumes, and what to consider in preparation of a second wave. Turchi stresses that organizations who are able to adapt to new opportunities will be in a better position to handle future crises. The major oversight that can be gained by touching on the topics she discusses can better equip a practice to handle these tough types of challenges.
Read the full article from Allscripts.com here.