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

Healthcare organizations will increase their cybersecurity budgets, in some cases by more than 15% compared to 2022

Demand for contract labor costs this year should normalize at about 60% higher than 2019 levels

Medicare Advantage enrollment is expected to reach a milestone this year, exceeding 50% of the total Medicare population in 2023

An estimated 5 million to 14 million are expected to lose coverage as states resume eligibility checks

63% of CEOs identified inadequate Medicaid reimbursement as a concern

Over the last year, medical care prices grew by 3.1%

The researchers found that, overall, medical deductibles were higher in 2023 than in 2022

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%

More 2022 Stats

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

In 2022, more than 2.34 billion prescriptions were filled using one e-prescribing company

Between 1990-2022, the number of osteopathic physicians has more than quadrupled from fewer than 25,000 to over 110,000

94% of patients noted a delay associated with Prior Authorization (PA), with 79% reporting that PA delays can lead to treatment abandonment

In 2022, 31.2% of physicians reported they had been sued at some point in their careers. An average of 61 claims had been filed per 100 physicians

Physicians spend nearly 2 hours daily dealing with EHRs outside of working hours

Telehealth utilization rose 5.5% in December, up slightly from November, according to Fair Health’s national monthly tracker

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