Many facilities operate without a full or dedicated financial staff. A lack of resources is further complicated by the financial pressures resulting from the large part of the demographic who are reliant on government insurance programs, without insurance, or those who have private insurance with tighter negotiated reimbursement rates. Additionally, there are costs involved in submitting and resubmitting claims, managing preregistration procedures and authorizations, and in dealing with a potential shift from fee-for-service payments to value-based reimbursements.
Combine those forces with needed investments in infrastructure and technology, and it is apparent that hospitals must have sound financial staff and strategies in place to maintain their financial position.
The professionals at CFO Systems understand the challenges rural hospitals face. Our team members have provided strategic management, accounting and finance functions, and human resource leadership and assistance to hospitals, clinics, long-term care facilities, senior living communities, and specialty practices. Our experts possess a thorough comprehension of revenue cycles, reimbursement structures, accounting departments, staffing needs, and infrastructure. Most importantly, we offer expertise without the cost or commitment of a full-time employee.
