Half of hospital executives surveyed reported that their organizations lose at least $1 million and as much as $10 million each year because of inefficiencies in the claims remittance process, according to results of a survey by PNC Financial Services Group, Inc., and conducted by Chadwick Martin Bailey. Two-thirds of hospitals executives reported that they must resubmit or rework a claim two or more times before it is paid, while 21% reported resubmitting claims as many as six times. Most hospital executives reported that they believe lack of standards among payers is the reason most claims are delayed or denied, while payers surveyed gave patient ineligibility as the number one reason claims are denied or delayed. The survey showed opportunities to better employ technology to enhance efficiency and drive down costs. Click here to download survey highlights. Click here to download top-line findings.
