Coronis Health, Hospital & Surgery Center
Coronis Health understands the challenges of Independent hospitals, and we are here to assist you.
Coronis Health can help take your mind off the concerns of billing, collections, reporting, process improvement, staffing of qualified revenue cycle employees, and more. This will allow you to focus on what is most important to the success of your hospital: quality care of your patients. To remain in business as an independent hospital in the world today, you must have the time and means to focus on patient care. We support independent hospitals and other medical centers by taking care of your operational needs while you focus on your patients.
Big Hospital System vs. Independent Hospital Systems
Because of its size, ability to gain operating efficiencies across several hospitals, and larger revenue, large hospital systems are perceived to be more financially stable. However, there are still many independent hospital systems that continue to thrive while being resistant to merging or being acquired. To increase your profitability, check out our blog on how to avoid hospital claims denials.
Advantages of Independent Hospitals Systems
Revenue at independent hospital systems may grow at a faster pace compared to big, health-system-owned hospitals. Independent hospitals’ smaller scale means better managing costs (e.g., negotiating volume-driven discounts with suppliers) and more efficient operations. A smaller organization is always easier to manage because it provides more agility to change when necessary, effectively adapting to the healthcare industry’s demands. Specifically, independent hospitals are more agile due to the fewer approval levels required to bring about change in their facility.
Disadvantages of Independent Hospitals Systems
It is also because of its size and scope that independent hospital systems can struggle more because of hospitals’ capital-intensive nature and the competitive healthcare environment. Amassing enough capital and debt capacity will be a huge obstacle for independent hospitals. They will also have less access to resources compared to big hospital systems. Without funding and the support of a larger system, independent hospitals are more at risk of losing money. Patients are also most likely to choose long-term and more stable care facilities like nursing homes instead of the short-term care provided at independent hospitals.
What Makes Medical Billing / RCM different for Independent Hospitals
Medical billing is not a “one size fits all” solution. Every facility and organization will have its own specific needs depending on its size and affiliations. Coronis Health will tailor medical billing accordingly to accommodate the facility’s specifications with other requirements that need to be assessed.
Your Unique Challenges
One of the biggest challenges for independent hospital systems is keeping up with the changes in CMS requirements and government regulations. While most big hospitals have a dedicated staff whose main responsibility is to stay abreast of new payer requirements and current billing and coding regulations, most independent hospitals don’t have the budget and workforce to handle this duty. Another hurdle would be the lack of funding and revenue. Since smaller independent hospitals see fewer patients, these facilities are more likely to receive lower commercial rates since they have less bargaining leverage with commercial insurers. Declining populations and the migration to ambulatory care also contribute to lower patient volume, further affecting the revenue of the hospital.
Your Unique Opportunities
The current positioning of independent hospital systems provides several opportunities. Independent hospitals can generate revenue from other sources and diversify their income by building more creative relationships that can result in innovative joint ventures. Independent hospitals can choose to open doors to more collaborative opportunities that will welcome diverse potential partners and strategic players. With this team-based atmosphere, hospitals are collaborating on serving their market rather than competing.
Why Choose Coronis Health for your Independent Hospital
While there are unique challenges to independent hospitals, the right tools, strategies, and partners will help you overcome those hurdles. We truly admire the outstanding work that independent hospitals deliver. We recognize the tremendous need for your services and have made it our mission to assist facilities like yours in achieving your financial goals. We want you to remain healthy, viable, and independent while providing the best care for your patients.
With over 100+ years of combined experience, the Coronis Health team of experts knows medical billing and coding specific to independent hospitals. We are comprised of the top medical billers in the country, pooling their global resources to bring customers the best in medical billing and revenue cycle management. We are well-versed in independent hospital services and specialties. We are also technological innovators and are fully integrated with the latest software, so we input coding instantly and execute collections fast and efficiently. Our goal is to remove the burden of medical billing and make running your independent hospital more rewarding.
Contact Coronis Health Today
Ready to find out how Coronis can help? Contact us today, or request your free financial checkup to see exactly how much lost revenue Coronis can help you collect from the start.