There’s no denying RCM teams’ top challenges

Eighty-two percent of health system CFOs said that payer denials are higher than pre-pandemic levels, compared to only 2% who say denials have decreased, according to a report from the Healthcare Financial Management Association and Eliciting Insights. 

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By: Andrew Cass

“HFMA Health System CFO Pain Points 2024” is based on a survey of 135 health system CFOs conducted in January, according to the report. 

According to the report, 90% of CFOs said clinical and/or technical denials are a top problem for revenue cycle management teams. 

Here are the top challenges for RCM teams, according to the report: 

  1. Clinical denials: 70%
  2. Technical denials: 63%
  3. Staffing shortages: 39%
  4. Underpayments: 33%
  5. Patient collections: 27%
  6. Third-party liability/complex claims: 18%
  7. Managing remote teams: 13%
  8. Other: 8.6%
  9. Credit balances: 4% 

  

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