Report: Health care administrative transactions cost $18B more last year
The U.S. health care system spent $60 billion conducting nine common administrative transactions in 2022, about $18 billion more than the previous year due to higher staffing costs and health care use, according to the latest annual CAQH Index. Fully transitioning to nine HIPAA electronic transaction standards could reduce annual transaction costs by $22.3 billion, the authors estimate.
Related News Articles
Headline
The AHA May 2 released a new report highlighting how hospitals and health systems continue to experience significant financial pressures that challenge their…
Headline
In separate calls Jan. 4 with subscribers, Fitch Ratings and S&P Global Ratings both maintained a gloomy outlook for the not-for-profit hospital sector in…
Headline
A new white paper from the AHA details how integrating physical and behavioral health services can reduce the total cost of care, improve outcomes and improve…
Headline
Mergers and acquisitions are a vital tool to keep financially struggling hospitals open and allow hospitals and health systems to reduce costs, improve quality…
Headline
The U.S. Court of Appeals for the 5th Circuit temporarily restored an Affordable Care Act requirement that most health plans cover certain preventive services…
Headline
Two experts discuss the AHA’s recently released 2023 Costs of Caring Report, which documents the skyrocketing growth in expenses, especially the cost of labor…