Costs for administrative staff and technology now consume an estimated 25% to 35% of all healthcare spending in the U.S., according to a June 2 report from the American Hospital Association. The report identified reducing that waste as one of five core strategies, alongside improving population health, transforming care delivery, lowering drug and device costs, and accelerating innovation to improve care outcomes. To address administrative burden, AHA’s suggested actions include reducing regulatory friction. standardizing insurance information and claims adjudication, shifting patient cost-sharing collection to health plans, eliminating fraud and abuse, and streamlining physician licensing and credentialing.
Read the full article: Administrative Costs Now Eat 25% to 35% of US Health Spending: AHA //
Source: https://www.beckershospitalreview.com/finance/administrative-costs-now-eat-25-to-35-of-us-health-spending-aha/