Denials management requires the most RCM subject matter expertise: Survey

Hospital CFO and revenue cycle leaders surveyed overwhelmingly said denials management requires the most RCM subject matter expertise, according to a May 23 report from Akasa, a revenue cycle firm that uses artificial intelligence. 

The survey, commissioned by Akasa, asked 556 CFOs and revenue cycle leaders to name up to five RCM tasks from a list of 15 that required the most expertise, according to the report. The leaders, selected through the Healthcare Financial Management Association’s Pulse Survey program, were polled between July 8 and Aug. 2.

Here are the five RCM tasks that require the most subject matter expertise:

1. Denials management: 78.7 percent

2. Coding: 50.1 percent 

3. Prior authorization: 49.7 percent

4. Insurance follow-up: 47.6 percent 

5. Patient cost estimation and price transparency: 30.4 percent 

CFOs and revenue cycle leaders also said denials management was the most time-consuming RCM task, according to an Akasa report released in April. 

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