According to Advisory Board, Healthcare organizations suffer an annual loss from denial write-offs ranging from as little as 1% of net patient revenue to as high as 4 or 5%. For an average 300-bed organization, 1% of net patient revenue can equate to $2 million to $3 million annually.
Why do Healthcare organizations accept this as the norm? Every penny is important and the cost to research, prioritize, appeal, collect, and report one denial can literally require days of attention. However, a more cost-effective solution exists, and it does not require a multimillion-dollar investment. Contact Parathon for the help your organization needs.
