RevCycle Intelligence September 21, 2023
A survey finds claim denials are revenue cycle management’s greatest challenge, with more than 1 in 5 providers saying they lose $500K in annual revenue because of denials.
Claim denials are posing a serious and expensive problem for healthcare revenue cycle management (RCM), according to a recent survey of healthcare leaders.
A survey conducted by Plutus Health connected with several healthcare organizations with annual revenue between $25 million and $5 billion with RCM teams between 50 and 700 people. Healthcare organizations cited claim denials as their organization’s greatest RCM challenge, with more than half of respondents (58 percent) giving it top rank behind “specific payer challenges” (44 percent). Other RCM challenges included staffing (41 percent), cost of collections (26...
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