The Impact of the Healthcare Labor Crisis on Revenue Cycles
Covid-19 has had far-reaching effects on all aspects of the economy, from setting the stage for eventual inflation to dramatic fluctuations in employment rates. One of Covid’s ongoing ripple effects has been the current healthcare labor crisis in the United States. The labor crisis is making automation more important than ever for healthcare systems, hospitals, and medical offices throughout the country. With an aging population in need of care and a shortage of administrative and billing staff, it is becoming increasingly difficult to provide attentive and prompt customer service, and revenue cycles are slowing as a result. Automation can help fill the gap by reducing the need for human labor and also improving the patient experience in the process. What is the labor crisis? The labor crisis describes the current employment situation in the U.S., in which there is a shortage of workers to fill available job openings. Labor shortages can occur in specific sectors and industries due