Is healthcare recession-proof? Or perhaps the more accurate question to ask is: “
is healthcare
pandemic-proof
?
” Paradoxically, the COVID-19 public health crisis has wreaked havoc on the U.S. healthcare industry. The
U.S.
Bureau of Labor Statistics
(BLS) forecasted that healthcare occupations would grow at a much faster rate between 2018 and 2028 than the average for all other occupations (14%), with the healthcare sector expected to add approximately 1.9 million new jobs. However, as of the end of the first quarter of 2020, healthcare has lost 1.4 million jobs, and real personal consumption for healthcare services has plummeted by 4.97% from the fourth quarter of 2019.
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On May 11, 2020, the
Centers for Medicare and Medicaid Services
(CMS) released its proposed rules for payment and policy updates for the Medicare
Inpatient Prospective Payment System
(IPPS) and
Long-Term Care Hospital
(LTCH)
Prospective Payment System
(PPS) for fiscal year 2021. Other than the changes in IPPS and LTCH payments, the most notable portion of the proposed rule is the innovation incentives proposed by CMS. This
Health Capital Topics
article discusses the various provisions outlined in the CMS proposed rule.
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The COVID-19 global pandemic has brought a time of uncertainty for many healthcare providers. While the focus of healthcare providers is on the access and delivery of care to those impacted by the outbreak, there are many providers who will require substantial financial resources to persevere. Physician practices in particular are striving to stay open, and are adopting new technology such as telehealth, to continue to see their patients and generate much-needed revenue. The revenue cycle management (RCM) process is playing a more vital role now, and this process may need to be modified in order to provide necessary cash flow. This
Health Capital Topics
article will discuss some of the ways in which the pandemic impacts the RCM process and the factors to consider in maintaining cash flow and patient satisfaction.
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As noted in the first installment of this five-part series, senior healthcare options have dramatically expanded in the past decade, and seniors have more healthcare service choices than ever before to meet varied care needs and income levels. These myriad options also have varying degrees of regulation, both at the federal and state level. This third installment in the five-part series on the valuation of senior healthcare will discuss the regulatory environment in which senior care facilities operate.
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