Healthcare IT Today October 11, 2024
The following is a guest article by Brian Doyle, SVP at Rectangle Health
Recent cyberattacks in the industry caused significant disruptions in healthcare claims processing and billing, impacting physicians, patients, and insurers. A survey done by the American Medical Association (AMA) revealed disruptions caused financial strain and jeopardized patient care. Over a third (36%) of respondents reported suspended claim payments, and 32% could not submit new claims.
These disruptions were particularly challenging for smaller practices, highlighting a specific vulnerability: dependence on a single system for insurance claims and payments. While the outage caused significant hardship, it can also be a catalyst for positive change by encouraging healthcare providers to consider diversifying their revenue streams.
Patient Payments: A Powerful Solution
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