Thirty-eight percent of hospital finance leaders said their hospitals are currently automating components of their denials management, and a majority of those who said they aren't are planning to by the end of 2024, according to Akasa, a revenue cycle firm that uses artificial intelligence.
Akasa commissioned a survey of more than 350 hospital and health system CFO and revenue cycle leaders across the U.S. through the Healthcare Financial Management Association's Pulse Survey program, according to a Sept. 26 news release from the company.
Of those who are not currently automating any component of denials management, 44 percent said they plan to do so by the end of 2023, and another 32 percent said they planned to do so in 2024. The other 24 percent said they have no current plans to do so.
An April survey from Akasa of 556 CFOs and revenue cycle leaders found that denials management was the most time-consuming RCM task.