Opinion: Unnecessary insurance claim denials compromise patient care and provider bottom lines
Health care providers are in an acute financial situation. Record-high wages required to attract and retain talent coupled with price inflation not seen since the early 1980s are driving higher costs, while reimbursement and federal policies limit providers’ ability to cover expenses. Adding to this budgetary stranglehold are payment delays and insurance claim denials by payers, which compromise patients’ access to health care and providers’ financial viability.
Several of my colleagues and I had been hearing from some of our company’s members that reimbursement delays and denials were becoming increasingly problematic. We were hearing from chief financial officers, in particular, that this issue was keeping them up at night.
