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MDaudit’s 2024 Benchmark Report Highlights Historic Surge in Denials and Audits

Nov 18, 2024 1 minute read

MDaudit is featured in MedLearn Publishing for its 2024 Benchmark Report, which reveals a fivefold increase in dollars at risk from payer audits and a surge of over 125% in coding-related denials. The report indicates that external audit volumes more than doubled in 2024 compared to 2023, with total at-risk dollars reaching $11.2 million per MDaudit customer. 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 report also highlights a significant rise in clinical documentation audits and reviews, which increased by 100% in 2024. To address these challenges, MDaudit recommends a hybrid auditing strategy that combines retrospective and prospective audits, leveraging technology and analytics to proactively identify and correct billing errors. CEO Ritesh Ramesh 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.

Read the full article here: News Alert: A Historic Surge in Denials and Audits.

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