INDIANAPOLIS--(BUSINESS WIRE)--Mar 31, 2026--
The more than 2,300 hospitals on the Kodiak platform lost more than $48 billon in net revenue in 2025 to final denials from payors and uncollected amounts owed by patients, up from $38.6 billion in 2024, according to the latest Kodiak Solutions Revenue Cycle Analytics benchmarking analysis.
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The 25% increase in net revenue leakage was driven by increases in the median final denial rate, from 2.5% in 2024 to 2.7% in 2025, and the median bad debt rate, from 1.1% in 2024 to 1.3% in 2025.
Clinical denial rates—covering denials for lack of precertifications or prior authorizations and for medical necessity—accounted for virtually all of the increase in denial rates, according to Kodiak’s analysis.
At the same time, hospitals, health systems and medical providers on the Kodiak platform recorded significant improvements on revenue cycle metrics related to cash flow. The average time to insurance payment, median days for claims in accounts receivable and median accounts receivable greater than 90 days all declined from 2024 to 2025, Kodiak data show.
“Payor behavior led to denial increases and a slight decline in the rate of overturning initial denials, with both driving the large overall increase in net revenue leakage from 2024 to 2025,” said Matt Szaflarski, Vice President, Revenue Cycle Intelligence for Kodiak. “The positive news on cash flow shows that revenue cycle teams can mitigate headwinds with strong performance on the things they can control.”
Kodiak’s data analysis comparing 2025 with 2024 also found:
“In comparing 2024 to 2025, we highlighted five revenue cycle trends, and four of them were negative for financial performance,” Szaflarski said. “In our work with the top performers on the Kodiak platform, however, we identified three best practices that revenue cycle leaders can focus on in 2026: practice tight accounts receivable discipline, focus limited denials resources on preventing clinical denials, and maintain rigor on front-end patient pay processes.”
More data from Kodiak’s “State of the healthcare revenue cycle” analysis and additional detail on these revenue cycle best practices can be found in the quarterly Kodiak RCA Benchmarking Analysis.
About Kodiak Solutions
Kodiak Solutions is a leading technology and tech-enabled services company that simplifies complex business problems for healthcare provider organizations. Over the past two decades, our team created and developed our proprietary net revenue reporting solution, Revenue Cycle Analytics. Kodiak also provides a broad suite of software and services in support of CFOs looking for solutions in financial reporting, reimbursement, revenue cycle, risk and compliance, and unclaimed property. Kodiak’s 450 employees engage with more than 2,300 hospitals and 375,000 practice-based physicians, across all 50 states, and serve as the unclaimed property outsourcing provider of choice for more than 2,000 companies. To learn more, visit Kodiak’s website.
Hospitals and health systems experienced higher denial rates from insurance companies when comparing 2025 with 2024, driving up revenue leakage by 25%.
LONDON (AP) — King Charles III is going ahead with a state visit to the United States next month, despite calls for the ceremonial event to be called off due to U.S. President Donald Trump’s repeated criticism of the British government for failing to support the war in Iran.
Buckingham Palace said Tuesday that the king and Queen Camilla would travel to the U.S. in late April to celebrate the 250th anniversary of American Independence. Trump put the dates as April 27-30.
“I look forward to spending time with the King, whom I greatly respect,'' Trump said on Truth Social. ”It will be TERRIFIC!”
The visit follows Trump’s state visit to the U.K. in September, a glittering occasion that was seen as part of Britain’s effort to shore up the so-called special relationship between the two countries as the president’s America First policies threatened the established global order.
But that hasn’t stopped Trump from chiding the U.K. for refusing to allow U.S. aircraft to use British bases for offensive operations against Iran. In a post on Truth Social, Trump said that countries who can’t get jet fuel because of restrictions around the Strait of Hormuz should “build up some delayed courage, go the Strait and just TAKE IT.’’
He has repeatedly lashed out at Prime Minister Keir Starmer, saying at one point that he is “not Winston Churchill.”
That had led some members of Parliament to demand that Starmer call off the state visit to show Britain’s disapproval and avoid any embarrassment for the king during a time of tension between the two countries.
Ed Davey, leader of the opposition Liberal Democrats, on Tuesday said Starmer had shown “a staggering lack of backbone” by allowing the state visit to go ahead.
“To send the king on a state visit to the U.S. after Trump dismissed our Royal Navy as toys is a humiliation and a sign of a government too weak to stand up to bullies,” Davey said. “What appalling thing does Trump have to do next to make the government see sense and cancel the state visit?”
The monarch hosts state visits at home and travels abroad at the request of the elected government, which uses the pomp and circumstance of such occasions to bolster relations with countries around the world. The decision to proceed with the long-discussed visit may be seen as an effort by Starmer’s government to ease the tensions caused by the war, or at least not enflame them.
Trump is known to be fond of the royal family and reveled in last year’s visit to Windsor Castle, where he was welcomed by a military band. The king hosted a banquet for him in a hall dripping with flowers and gold leaf.
The visit came about after Starmer hurried to Washington in February 2025, just five weeks after Trump began his second term, and hand-delivered the king’s invitation to the president.
It was the first time any world leader received the honor of a second state visit, and the first time the invitation was delivered in a personal letter from the king, which Trump proudly displayed for TV cameras.
“It’s a great, great honor,” Trump said at the time, noting that the letter included an invitation to Windsor Castle. “That’s really something.”
Now the king is heading to Washington for the return engagement.
Charles has visited the U.S. 19 times, but this will be his first state visit to the country since becoming king. His mother, Queen Elizabeth II, made four state visits to the U.S.
The king also will travel to Bermuda in conjunction with the U.S. trip, his first visit to the overseas territory as monarch.
Britain's King Charles arrives at Datchet Road to greet Nigerian President Bola Ahmed Tinubu, and his wife ahead of a carriage procession to Windsor Castle, in Windsor, England, Wednesday, March 18, 2026. (Justin Tallis/Pool Photo via AP)
Britain's King Charles and Queen Camilla wait at Datchet Road to greet Nigerian President Bola Ahmed Tinubu, and his wife ahead of a carriage procession to Windsor Castle, in Windsor, England, Wednesday, March 18, 2026. (Justin Tallis/Pool Photo via AP)
