Nearly 75% of providers report an increase in claim denials, a 31% jump since 2022, according to the Experian Health's "2024 State of Claims" survey.
The survey, conducted from June 22 to July 10, included responses from 210 healthcare professionals involved in administration, including chief officers, presidents, vice presidents, directors and administrators.
Here are five key insights from the survey:
1. Frequent payer policy changes: In 2024, 77% of respondents noted that payer policy changes are happening more frequently, up from 67% in 2022.
2. Slower reimbursement times: 67% of respondents said reimbursement times are increasing in 2024, compared to 51% in 2022.
3. Top causes of denials: The most common reasons for claim denials were missing or inaccurate data (46%), authorization issues (46%), and incomplete or inaccurate patient information (30%).
4. Denial rates have increased since the COVID-19 pandemic: 66% of respondents reported that denials occur at a higher rate than before the COVID-19 pandemic. Additionally, 65% said it’s more difficult to submit clean claims now, and 42% pointed to economic challenges and declining consumer confidence as factors adding urgency to payer reimbursement.
5. High denial rates: 38% of respondents said their claims are denied 10% of the time or more, and 11% reported denial rates of 15% or more.