Posted by Revenue should be on top of mind for all medical practice groups as we go into the new year
- 40% of medical practices did not hit their revenue goals in 2022
- 29% of providers say that their biggest financial worry was getting reimbursed by payers
- 50% of medical practice groups saw their accounts receivable (A/R) time increase in 2022
- Collecting payments takes too long! Percentage of healthcare providers who say: It takes more than a month to collect payment= 77%; It takes more than one statement to collect payment = 74%
- Inadequate billing processes and practices in the US were to blame for $125 billion in lost revenue
Infographic Source: https://www.emprisehc.com/blog/infographic-2023-revenue-cycle-trends