The Hospital Revenue Cycle Benchmarking Initiative has assessed revenue cycle performance since 2006. Our 2021 survey includes updated metrics that span patient access, mid cycle, and business office, as well as some newly-introduced measures such as robotic process automation adoption and hospital price transparency compliance. These ready-to-use slides outline key industry trends, historical analyses, and insights for hospital finance and revenue cycle leaders.
Top Takeaways:
- POS collections (%NPR) dropped drastically at the 50th-90th percentiles due to decreases in patient access staffing and changes in patient eligibility due to unemployment.
- Increases in charity care spending are due to high unemployment, weak economic growth, and public pressure for hospitals to expand policies and halt collections.
- Organizations self-report high levels of price transparency compliance which is at odds with industry reports of low compliance.