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.
"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:
- Clinical denials: 70%
- Technical denials: 63%
- Staffing shortages: 39%
- Underpayments: 33%
- Patient collections: 27%
- Third-party liability/complex claims: 18%
- Managing remote teams: 13%
- Other: 8.6%
- Credit balances: 4%