“HFMA Health System CFO Pain Points 2024” is based on a survey of 135 health system CFOs conducted in January, according to the report.
The report found that 62% of CFOs believe collecting from Medicare Advantage is “significantly more difficult” than it was two years ago, and another 30% said they believe it is “somewhat more difficult.” Only 8 % said they believe there has been no change.
According to the CFOs surveyed, the top challenges with Medicare Advantage plans are:
- Onerous prior authorization requirements: 87%
- Denials for medical records: 75%
- Changing clinical policies to reduce services they have to cover: 69%
- Low reimbursement relative to traditional Medicare: 52%
The report also found that 16% of health systems are planning to stop accepting one or more Medicare Advantage plans in the next two years. Another 45% said they are considering the same but have not made a final decision.
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