There’s no denying RCM teams’ top challenges

By Andrew Cass for Becker’s Hospital Review

Eighty-two percent of health system CFOs said that payer denials are higher than pre-pandemic levels, compared to only 2% who say denials have decreased, according to a report from the Healthcare Financial Management Association and Eliciting Insights. 

“HFMA Health System CFO Pain Points 2024” is based on a survey of 135 health system CFOs conducted in January, according to the report. 

According to the report, 90% of CFOs said clinical and/or technical denials are a top problem for revenue cycle management teams. 

Here are the top challenges for RCM teams, according to the report: 

1. Clinical denials: 70%
2. Technical denials: 63%
3. Staffing shortages: 39%
4. Underpayments: 33%
5. Patient collections: 27%
6. Third-party liability/complex claims: 18%
7. Managing remote teams: 13%
8. Other: 8.6%
9. Credit balances: 4%