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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.
Playing the Claim Denials Game
Do you feel like your healthcare enterprise is playing a board game and rolling the dice when it comes to managing claim denials? You are not alone. The follow-up process has certainly changed and become a huge burden for providers.