Revenue Leakage In Healthcare

Revenue cycle leakage points.

Revenue leakage in healthcare. In 2018 a survey of healthcare executives conducted by sage growth partners and fibroblast revealed that 43 of the respondents report losing 10 or more of their annual revenue due to patient leakage while 23 don t even know how much they are losing. Revenue leakage defined revenue leakage is the unnoticed or unintended loss of revenue from your company. Find out here the top 10 sources of lost revenue and cost drain leakage and how effy healthcare powered by raid may help your healthcare organization prevent leakages to happen in the first place. Patient leakage translates to revenue leakage.

The last thing that a healthcare organization needs is to provide services and not be paid. From a revenue standpoint almost 43 of healthcare organizations lose more than 10 of their revenue as a result of patient leakage. Poorly handled or mismanaged patient referrals are a significant problem for many health systems that can lead to patient leakage and in turn revenue loss. Health systems are said to lose up to 20 of revenue due to patient leakage.

While leaks can come from both the revenue and the expenditure side most commonly revenue leakage refers simply to not billing or under billing your customer for products and services provided. Forty three percent of over 100 executives recently surveyed by sage growth partners for fibroblast said their healthcare organization is losing more than 10 percent of revenues because of patient leakage. For more information on reducing revenue leakage at your hospital or health system download this whitepaper. Find out the top 10 revenue leakage causes and how effy healthcare may help your organization prevent it to happen in the first place.

Health systems are losing more than 20 revenue due to inefficient organizational referral processes as a result patients are opting to different care providers for their care needs. Patients being referred out of network is one of the main causes of patient leakage. Even today patient leakage is a key concern and remains an unsolved challenge in many of the health systems. It is clear that patient leakage has a significant impact on revenue and quality of patient care.

Healthcare s revenue cycle management rcm is very complex and challenging to manage efficiently. Quantifying revenue leakage is eye opening. Registration coding or billing errors.