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What hospital and healthcare system revenue cycle leaders think

6/18/2021
What hospital and healthcare system revenue cycle leaders think

During the 2021 Crowe healthcare revenue cycle virtual symposium, Crowe presenters took the temperature of hospital and healthcare system revenue cycle leaders through a series of attendee polls during the symposium’s seven keynote, general, and concurrent educational sessions.

What do your peers think about what’s happening in healthcare? Here are 11 survey questions and responses.

On the COVID-19 pandemic...
On health policy and current system dynamics...
On future innovation and system dynamics...
On the COVID-19 pandemic...

Question: Is your organization embracing the changes from the pandemic and continuing to allow a work-from-home option into the future? Responses: • 91.0% – Yes • 3.6% – No • 5.4% – Not applicable Total responses: 277

 

Question: Does your organization have a plan for purposeful interactions if you are continuing with a work-from-home option? Responses: • 69.0% – Yes • 18.1% – No • 7.2% – We are returning to the office • 5.8% – Not applicable Total responses: 277

 

Question: On what will the COVID-19 pandemic have the most long-term impact? Responses: • 5.7% – Digital health adoption • 1.9% – Public health infrastructure • 1.9% – Provider consolidation and outside competition • 0.9% – Health policy and reimbursement • 89.6% – All of the above Total responses: 106

On health policy and current system dynamics...

Question: Do you think that pricing transparency regulations have made a difference in your organization? Responses: • 28.2% – Yes, our patients are shopping around, and it shows • 26.0% – No, we have the same number of patients calling for pricing estimates as we had before • 13.7% – No, patients aren’t even mentioning it • 32.1% – Not applicable Total responses: 277

 

Question: We have an internal health plan and provider relationship, known as the “payvider.” Responses: • 39.1% – No • 23.4% – Yes • 37.5% – Not applicable Total responses: 261

 

Question: Beginning Jan. 1, 2021, CMS [Centers for Medicare & Medicaid Services] implemented all of the following except: Responses: • 31.3% – Elimination of inpatient-only list • 9.1% – Expansion of ambulatory surgery center coverage list • 4.0% – Hospital pricing transparency guidelines • 2.0% – Expanded coverage for remote patient monitoring and telehealth • 53.5% – All of the above The correct answer is elimination of inpatient-only list. Total responses: 99

On future innovation and system dynamics...

Question: Over the next decade, what do you see as the primary driver for disruption in healthcare? Responses: • 59.0% – Rise of patient consumerism • 15.4% – Private equity investment in retail health clinics • 11.5% – Advancements in robotics and artificial intelligence • 7.7% – Creation of a public option health insurance program • 6.4% – Emergence of new healthcare treatments Total responses: 78

 

Question: What’s the primary driver of the projected expansion of digital health technologies and adoption? Responses: • 7.0% – Patient and provider adoption during the COVID-19 pandemic • 3.0% – The Affordable Care Act • 1.0 % – Rollout of 5G internet speed across the country • 52.0% – Rollout of 5G internet speed across the country and patient and provider adoption during the COVID-19 pandemic • 37.0% – All of the above Total responses: 100

 

Question: How can healthcare systems foster more innovation? Responses: • 41.1% – Make innovation part of everyone’s performance expectations • 36.2% – Create a think tank environment for ideas to be presented and advanced • 16.9% – Offer monetary rewards for employees who innovate • 5.8% – Hire an executive like a chief innovation officer or vice president of innovation to lead the efforts Total responses: 207

 

Question: How can health systems collaborate more in order to improve their performance? Responses: • 45.9% – Use benchmarking where the leading organizations are identified and accessible • 29.4% – Active and encouraged involvement in professional associations • 20.1% – Encourage managers to start their own affinity groups of like functions like revenue cycle • 4.6% – Key leaders attend national conferences Total responses: 194

 

Question: What will be the outcome of increasing integration in healthcare? Responses: • 37.1% – Hospitals, physicians, and ambulatory providers will work more closely together • 25.7% – Managed-care organizations will become more operationally involved in clinical care • 21.8% – Fewer and larger national healthcare systems • 15.3% – Facilities’ integration doesn’t matter as much as integration of the data Total responses: 202

Note: Results might not add up to 100% due to rounding.

There you have it: 11 things that your healthcare revenue cycle peers think about the impact of the pandemic, current health policy and health system dynamics, and the future of disruption, digital health adoption, innovation, collaboration, and integration. Do your views align with those of your peers?

To learn more about these and other topics, please view on-demand sessions from the 2021 Crowe healthcare revenue cycle virtual symposium.

You can also visit our Best of the 2021 Crowe healthcare revenue cycle virtual symposium webpage, which includes session summaries, links to session materials, and more.