Optimal patient health is the collective goal of the healthcare industry, but in order to provide high-quality care that keeps patients healthy, providers need to be fiscally healthy themselves. Good patient financial management is a crucial part of this health: Keeping revenue high while strong patient relationships.
It is a tragedy when an important healthcare facility serving a needy community has to shut its doors and place the lives of those it serves at risk. Unfortunately, continuing financial losses are forcing the closure of Hahnemann University Hospital, one of the nation’s most historic medical facilities. Hahnemann Hospital, which primarily serves some of the poorest residents of Philadelphia, might have avoided this unhappy outcome if it had implemented a patient financial management program that optimized pre-care patient intervention to strengthen revenue.