Federally-facilitated Exchange Improper Payment Rate Less Than 1% in Initial Data Release

Statistic Info

This is a promising figure and indicates that the exchange is running smoothly and deductions are being made in accordance with established regulations. The report from CMS is encouraging news for those relying on health insurance through the Federally-facilitated Exchange.

Author: CMS

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Revenue Management

The healthcare industry could save almost $25 billion, or 41%, by fully automating administrative transactions

Smaller party annual revenues exceeded $1 billion in more than 15% of last year’s transactions, coming in just below the previous year’s historic high of 16.3%

The federal budget will extend incentive payments for alternative payment models for an additional year, through 2025. However, the incentive payments will be at 3.5% instead of 5%

Federally-facilitated Exchange Improper Payment Rate Less Than 1% in Initial Data Release

Health system expenses are expected to increase by nearly $135 billion in 2023

55% of hospitals had complete machine-readable files with cash, list, and negotiated rates for services

78% of health insurers are anticipating significantly higher healthcare cost increases in the next three years

An 8.5% cut to Medicare payments could affect patient care in medical practices across the country

Healthcare costs are 2 times higher in the US than in other countries

Healthcare Revenue Cycle Management Market to hit USD 257.5 Billion by 2028

More 2022 Stats

52% of U.S. patients said healthcare providers dismiss their described symptoms

Researchers found that 8.3 million Medicare beneficiaries participated in a telehealth visit, & of these, 5% had one or more out-of-state telehealth visits

Telehealth, physician payment, training more doctors & pandemic preparedness are among the health care provisions in the federal government’s $1.7 trillion budget for 2023

The federal budget will extend incentive payments for alternative payment models for an additional year, through 2025. However, the incentive payments will be at 3.5% instead of 5%

Although specialty medications total roughly 2% of prescribed drugs, they account for more than 52% of all pharmacy spending

Nearly 40% of Americans are confused by medical bills

Federally-facilitated Exchange Improper Payment Rate Less Than 1% in Initial Data Release

Medicare physician pay has declined 22% from 2001 to 2021

76% of healthcare leaders indicate they think inflation will have a significant impact on their strategy

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