While most hospitals, healthcare systems, and physician practices have dedicated in-house or outsourced teams working denials, they continue to see a steady rise in the percentage of denied claims and the associated loss of revenue. The rising number of denials increases the cost to collect, delays cash realization, and sometimes even threatens the financial stability of the hospitals. As reimbursements continue to decline and qualified labor is in short supply, healthcare organizations are looking at an increasingly challenging financial reality. Further, rising consumerism is shifting the focus to improving the patient’s experience, which requires significant investments in omnichannel patient contact tools.

Join for free to read