Amidst the financial complexities and risks facing the healthcare sector, from inflation and outdated contracts to workforce shortages and diminishing market share, healthcare organizations are navigating a challenging landscape. Effective mitigation strategies include service line assessments, workforce prioritization, leveraging patient feedback, outsourcing non-clinical tasks, and seeking strategic collaborations. These measures are vital for enhancing financial…Read More
Healthcare providers may not be aware that they are subject to a Single Audit (A-133 audit). Many healthcare providers faced significant financial changes due to the COVID-19 pandemic, including the following changes felt by many organizations. Additional costs associated with purchasing needed PPE Costs of additional support provided to your workers Revenue losses from cancelled…Read More