Fierce Healthcare December 14, 2023
A jump in claim delays and denials is “wreaking havoc on providers’ revenue cycle performance” and contributing to health systems’ “volatile” accounts receivable and diminishing cash reserves, according to a recent pair of analyses.
The first, published this week by Kodiak RCA (formerly Crowe healthcare consulting), pulls average revenue cycle performance benchmarks from its platform incorporating data from more than 1,800 hospitals and 200,000 physicians.
The analysis found, among other trends, an increase in overall initial denial rates from 10.15% in 2020 to 11.2% in 2022, and then up again to 11.99% in the first three quarters of 2023.
Additionally, it pointed to 2020-2023 increases in 90-day-plus accounts receivable’s percentage of payer claim value, both for patients with Medicare Advantage...
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