58.6% of healthcare finance leaders say that insurance follow-up is the most time-consuming revenue cycle task for their organization

Statistic Info

Due to the complex nature of reimbursements, many healthcare organizations end up spending a significant amount of time on manual processes associated with following up on unpaid claims. Additionally, communication between payers and providers is often largely paper-based or manual and involves numerous phone calls and emails, making it difficult for healthcare organizations to keep track of what has been done or said by whom. All this results in increased spend related to staff costs as well as lost revenue due to delayed payment cycles. Inefficiencies in claim processing can delay reimbursement cycles significantly if not addressed efficiently.

Author: AKASA

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