General insurance denials and specific payer challenges are the biggest revenue cycle challenges facing providers, according to a Sept. 14 report from Plutus Health.
Plutus Health surveyed more than 200 healthcare providers about their RCM processes and plans, according to a Sept. 14 news release from the company.
These are the top 10 RCM challenges in 2023, according to the report:
1. General insurance denials: 59 percent
2. Specific payer challenges: 45 percent
3. Staffing shortages: 41 percent
4. Cost of collection: 25 percent
5. Medical coding inaccuracies: 22 percent
6. Policy changes (No Surprises Act): 21 percent
T-7. Quality of financial reporting: 13 percent
T-7. Value-based care: 13 percent
T-9: Budget: 12 percent
T-9: Provider credentialing: 12 percent