Nearly half of hospital revenue cycle leaders view payer denials as the single greatest threat to their organization’s financial performance, according to a report from RCM company Knowtion Health, featuring joint research with Healthcare Financial Management Association.
The report is based on a nationwide survey of 147 revenue cycle leaders, according to a June 26 Knowtion news release.
Four things to know:
1. 48% of leaders surveyed said denial volume now surpasses all other revenue threats, including declining reimbursement, labor shortages and analytics gaps.
2. 47% said that appeals now take more than twice as long as they did three years ago.
3. Half of the leaders surveyed said they have seen a significant increase in payer requests for information over the past year.
4. 38% cited difficulty prioritizing denials based on revenue impact as their top barrier to recovery.
Read the full report here.
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