MDaudit is featured on the Monitor Mondays podcast, where CEO Ritesh Ramesh delves into the critical insights from the company’s 2024 Annual Benchmark Report. In the episode titled “New Healthcare Survey Reveals Need for Continuous Financial Risk Monitoring,” Ramesh highlights a fivefold increase in dollars at risk from payer audits and a surge of over 125% in coding-related denials. These findings underscore the pressing need for healthcare organizations to overhaul their revenue cycle management (RCM) strategies to mitigate financial risks and improve cash flow stability.
The discussion also touches on the significant rise in medical necessity-related denials—75% for outpatient claims and 140% for inpatient claims—further emphasizing the challenges faced by healthcare providers. Ramesh advocates for a hybrid auditing strategy that combines retrospective and prospective audits, leveraging technology and analytics to proactively identify and correct billing errors. He emphasizes that investing in real-time monitoring of billing risks and integrating clinical documentation improvement (CDI), billing, coding, and RCM programs are crucial steps toward achieving financial resilience in 2025.
Listen to the full episode here: New Healthcare Survey Reveals Need for Continuous Financial Risk Monitoring.
