According to a survey by Kaufman Hall, 75% of healthcare leaders say the Covid-19 pandemic has had an adverse impact on their revenue cycle operations, including increased payer denials and an increase in bad debt.
White Paper: Patients as the New Payer: Four ways to protect your bottom line and improve patient collections
Provider practices are facing increasingly difficult patient collections. Because of rising deductibles and increased patient responsibility, patients are now the third largest payer, just behind Medicare and Medicaid.
Even with the increased focus on automation, too many revenue cycle operational processes remain highly manual and resource-intensive. This is especially true for mid-cycle processes.