76% of healthcare financial leaders say that denials management is the most time-consuming revenue cycle task for their organization

Statistic Info

This statistic illustrates the complexity of the denials management process, which can be extremely difficult to navigate without proper support. Denial management encompasses all activities related to responding to denied claims and includes researching, identifying, and appealing denials. It is a labor-intensive practice that can involve cross-departmental collaboration with medical coders, healthcare finance professionals, billing staff, and other personnel.

Author: AKASA

More Related Stats

Physician Providers

In 2023 there was a 13% revenue growth in Q2 due to rising enrollment

Only a little more than a third of the insured respondents agreed that insurance facilitates affordable access to care for all

the average cost of a healthcare data breach is $10.1 million

The average cost of medication non-adherence in the U.S. ranges from $5,271-$52,341 per person

Nearly 42M children in the US get their health care through Medicaid or the Children’s Health Insurance Program (CHIP)

The average star rating across Medicare Advantage contracts increased from 3.86 in 2014 to 4.37 in 2022, when 68.4 percent of contracts had a rating of 4.0 or higher

Every eight hours that office-based physicians have scheduled with patients, they spend more than five hours in the EHR

Medical groups and healthcare organizations reported a 6.1% increase in primary care compensation in 2022 compared to 2021

Medicare Advantage overpayments may exceed $75 billion in 2023 due to favorable selection of Medicare Advantage plans

60% of insured adults reported experiencing a problem with their coverage in the past 12 months

More 2023 Stats

74% of Hospitals Use Some Revenue Cycle Automation

Nearly half of physicians are equally excited and concerned about the use of AI in their field

ChatGPT Gives Wrong or Incomplete Answers Regarding Medication About 75% of the Time

Fewer Than 1 in 3 Consumers Pay Medical Bills Immediately

Medicare Advantage Denials Jump 56%, Commercial Denials 20%, from Jan. 2022 to July 2023

Adults in the U.S. are most likely to have medical bill problems, regardless of income

More than 1 in 6 Americans now 65 or older

27% of Adults Face At Least One Healthcare Affordability Challenge

In 2023 there was a 13% revenue growth in Q2 due to rising enrollment

Only a little more than a third of the insured respondents agreed that insurance facilitates affordable access to care for all