How an Effective Revenue Cycle Management Strategy Can Help Reduce Burnout

Optimizing the revenue cycle can help reduce much of the stress that contributes to burnout. Before COVID-19 struck, many healthcare providers were already nearing a breaking point from the stress of their jobs. Faced with a number of demands – evolving laws, regulations and standards; healthcare reform and changing payment policies; too many administrative tasks; balancing increased patient expectations as healthcare consumers with limited time for patient interactions – providers and their staff were already suffering burnout at record levels.

In an effort to ease some of the financial stressors, the federal government stepped up to provide some stop-gap funding. These included the provider relief fund that provided grants to healthcare providers to cover lost revenue and unreimbursed pandemic-related costs, the Paycheck Protection Program and other loans under the CARES Act, Medicare Accelerated and Advance Payment Programs to mitigate cash flow disruptions, and additional funds made available for certain providers under the American Rescue Plan.