Ideas to Increase Revenue or Reimbursement in Healthcare Organization

One way to increase revenue is by enhancing performance. High patient outcome and satisfaction by improved and high quality care is likely to attract more patients to the healthcare organization. Satisfied patients are likely to come back in the future if in need of health care services. In addition, they are highly likely to refer their friends, relatives and colleagues to a healthcare organization that provide satisfactory services. This eventually results to increase in the level of patient flow in healthcare organization resulting higher revenue (Cosgrove et al., 2013). Another idea is by reducing penalties from Medicare and Medicaid services centers by reducing cases of readmission, hospitalized infection and other efficiency issues that attract penalties. Normally, healthcare organizations are penalized for recoding high level of readmission among other performance failure during Medicare and Medicaid reimbursement. It is therefore important to reduce such cases by enhancing proper follow-up after discharge, educating patients on proper self-care and enhancing high patient outcome during the initial treatment. High performance also attracts incentives from the government and other NGOs concerned with good healthcare operations. This is also likely to improve the organization revenue periodically, based on when an organization attracts performance incentive. Another idea is by conducting a strategized marketing which can be done by use of professional network where patients are referred by other professionals in the field to the organization. To manage this, an organization need to have specialized units and highly qualified professionals who are dedicated into providing quality of care and high level of patient satisfaction. This form of marketing can be considerably cheap and effective in increasing the patients-inflow. Another idea is by partnering with care organizations that do not fully focus on health care management to assist with such services. These include children’s home, elderly nursing homes, and asylum centers among other organizations. This ensures that the organization has steady extra income from such centers for providing needed healthcare services.

Increase in reimbursement assist in providing enough finances to run the health care organization. This ensures that there is enough funding to take care of short-term healthcare expenses and also long-term expenses. This implies that the care provision will not be undermined due to lack of resources. Increase in revenue also ensures good compensation of the healthcare professionals through incentives and increase in their benefits. This acts as a motivational factor that enhances personal professional growth and general improvement in performance. Increase in reimbursement and revenue also increase chances of healthcare expansion and provision of new healthcare facilities that will enhance care even more.

Get Your Custom Paper From Professional Writers. 100% Plagiarism Free, No AI Generated Content and Good Grade Guarantee. We Have Experts In All Subjects.

Place Your Order Now
Scroll to Top