HealthLeaders Media March 20, 2024
Executives are reporting an increase in denials, putting more pressure on system finances.
Going back and forth with payers with denials is a time consuming and expensive process, and low reimbursement rates aren’t helping.
In a new survey by the Healthcare Financial Management Association, CFOs noted a significant increase in denials, which is further exacerbating financial struggles.
Of the 130 CFOs polled, 82% said the increase in payer denials has been significant compared to pre-pandemic levels. Another 84% of respondents attributed low operational margins to low reimbursement rates.
Payer denials have been an issue for revenue cycle executives, with many voicing their frustration with slow claims processing times, algorithms denying claims, and vague policy details during HealthLeaders’ RevTech Exchange.
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