Healthcare
UNMATCHED INDUSTRY KNOWLEDGE
The healthcare industry has never grappled with more pressures than it does currently.
Healthcare businesses have many competing interests. The health insurance industry has undergone revolutionary changes since the implementation of HIPAA and ACA. Healthcare providers should, therefore, expect more changes as the U.S. government and state governments develop new policies, implement new regulations, and adjust healthcare programs.
Rather than swimming upstream against change, HRSS guides health care providers to maintain regulatory compliance and helps them find ways to streamline operations to ensure that tight margins do not compromise the quality of patient care.
Healthcare businesses that benefit from HRSS’s services span the healthcare industry. That include health care providers and supporting services such as:
- Hospitals and ER Centers
- Physician’s offices and medical group practices
- Home healthcare businesses
- Dentist’s offices and dental group practices
- Nursing homes
- Hospices
- Surgery and imaging centers
Healthcare businesses need to spend money to maintain a superior quality of patient services. New technologies and highly trained physicians and other medical providers are expensive. Moreover, healthcare businesses are not answerable to financial regulations. However, they must comply with ethical rules, health codes and guidelines, legal obligations, medical industry best practices, and insurance agreements.
Industry changes and the obligation to comply with new and continuously evolving regulatory regimes bring uncertainty about the future of healthcare businesses. They are also being squeezed by factors like new cost controls and changing insurance requirements. Thus, the healthcare industry is in a difficult position.
Let us help you navigate through the challenges of Healthcare industry uncertainties.
Our Services for the Healthcare Industry
Healthcare businesses need to spend money to maintain a superior quality of patient services. New technologies and highly trained physicians and other medical providers are expensive. Moreover, healthcare businesses are not answerable to financial regulations. However, they must comply with ethical rules, health codes and guidelines, legal obligations, medical industry best practices, and insurance agreements.
Industry changes and the obligation to comply with new and continuously evolving regulatory regimes bring uncertainty about the future of healthcare businesses. They are also being squeezed by factors like new cost controls and changing insurance requirements. Thus, the healthcare industry is in a difficult position.
Insurance Review
HRSS understands that managing a healthcare business requires accurate and complete accounting, financial, and operational data. Managing the relationship between healthcare providers and health insurers is key to profitability. However, the only way to achieve this is with an accurate and complete picture of the healthcare business’s financial performance.
With HRSS, healthcare businesses have actionable information to structure their relationships with insurers.
Compliance Services
HRSS helps healthcare businesses meet audit requirements for private insurers, Medicare, and Medicaid. We can provide analysis and support throughout the compliance process, from billing compliance to review of coding and documentation procedures.
Advisory Services
HRSS understands how healthcare businesses are structured and can advise them on a range of issues, including physician compensation, capital investments into equipment and new technology, collection procedures, and managed care contracting.
HRSS’s advisory services help healthcare businesses make smart decisions about structuring their business and partnerships to optimize profitability and patient care.
Long-Term Planning
HRSS helps its healthcare clients develop plans for legislative, regulatory, and industry changes that will affect how care is delivered and how healthcare businesses are paid.
Financial and accounting data from HRSS provides insight into a healthcare business’s performance to help it identify ways to streamline services and deliver care more efficiently.
Secure Your Practice’s Continued Growth with HRSS
Healthcare businesses are in the business of providing excellent patient care. However, government regulations, insurance contracts, and the cost of medical technology have diverted the attention of healthcare businesses from medical care to financial issues. HRSS provides accounting and financial services to healthcare businesses so they can focus on their core mission: providing the highest levels of medical care.
HRSS services relieve healthcare businesses of the accounting and financial burdens so they can put their energies into their core competency. Contact us to learn more about the services HRSS offers healthcare businesses.
IN THE NEWS
U.S. Investors’ Anxiety Sparks Gold Price Speculation
With palpable anxiety stemming from concerns over inflation, the resilience of the U.S. dollar, political upheavals, and global economic uncertainties, investors are now eyeing other options amid tight market regulations.
Great Power Struggle: Impact of China-West Relations on Global Markets
The intricacies that govern China-West relations have dictated global trade best practices throughout history, spanning from cautious engagement to economic interdependence and, at times, geopolitical tension.
The Countdown Begins: How to Prepare for the Inevitable US Recession
Learn how to safeguard your financial stability as the US recession looms. Don't be caught off guard. Take a proactive approach to secure your future.
