The survey commissioned by Akasa asked 556 CFOs and revenue cycle leaders to name up to five of their most time-consuming tasks from a list of 15, 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 most time-consuming revenue cycle tasks:
1. Denials management: 76 percent
2. Prior authorization: 60 percent
3. Insurance follow up: 58.6 percent
4. Eligibility and medical necessity checks: 26.6 percent
5. Patient cost estimation and price transparency: 26.4 percent
Read the full report here.
At the Becker's 11th Annual IT + Revenue Cycle Conference: The Future of AI & Digital Health, taking place September 14–17 in Chicago, healthcare executives and digital leaders from across the country will come together to explore how AI, interoperability, cybersecurity, and revenue cycle innovation are transforming care delivery, strengthening financial performance, and driving the next era of digital health. Apply for complimentary registration now.