Payer challenges are by far the top area of stress for revenue cycle departments, according to a Sept. 9 report from consulting company Guidehouse.
Guidehouse's "2024 Revenue Cycle Management Report" analyzed a survey conducted by the Healthcare Financial Management Association in May 2024. The survey included 134 CFOs and other C-suite and financial health system executives.
The leaders were asked to select the top three areas of stress for their revenue cycle department, according to the report.
Here are the top five areas of stress for revenue cycle departments:
1. Payer challenges - 86%
2. Prior authorization - 52%
3. Workforce shortages - 31%
4. Rising cost to collect - 25%
5. Cybersecurity threats - 24%
Read the full report here.