Seven Actions Every Health System CFO Needs to Consider

The COVID-19 pandemic is wreaking havoc on every industry, and healthcare is no exception. In many states, elective procedures—the main driver of hospital profitability—were not allowed for several months, and some providers continue to limit them. Many people, especially those with comorbid conditions, have anxiety about coming into hospitals and doctors’ offices and are opting instead for telehealth visits, for which providers have had difficulty getting full reimbursement.

Needless to say, health systems are struggling as a result of this reduced activity and the resultant drop in billings. What can be done to increase revenues and stanch losses?