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New Report Reveals Healthcare Organizations Are Paying the Price For Claim Denials.
Managing denied claims has long put a financial strain on hospitals and health systems. In the past few years, the problem has only worsened as payers use AI to help delay payments and turn the claims process into a labyrinth for hospitals to navigate.
Health Systems Near Breaking Point as Labor Costs Rise & Payer Dollars Fall
An astonishing 84% of health systems cite lower reimbursement from payers as a top cause of low operational margins, according to a report published by the Healthcare Financial Management Association (HFMA) and Eliciting Insights, a healthcare strategy and market research company.
February 2024 edition of Meduit’s digital RCM magazine Cycle Up
This is a critical year for healthcare providers and their revenue cycle health. Though hospital margins are on the rebound, staffing shortages and rising labor costs persist, while claim denials continue to increase at a double-digit pace. Escalating healthcare costs are fueling a need to improve the patient experience in order to drive collections.