Tips to lower your denial claims and increase your reimbursements rate
Denials in medical billing are common and inevitable. More than 30 % of claims submitted in fact are rejected. However, approximately 90 % of denials are easily preventable.
In fact, here are a few common denial reasons to avoid for a better revenue generation:
- Identify the causes of denials – Identifying the cause of denial and sorting the reason and pattern helps a lot in avoiding denials in near future as well. Identifying every missing information, incorrect billing, non-covered services, and so on and so forth and communicating it efficiently to the team in fact help in avoiding denials and can be prevented it from happening in near future by being more careful and attentive while managing patients’ information.
- Work on better claims process – the process of reworking on claims is quite complicated, time consuming and costly and if not attended immediately can get missed or not get filed for an appeal on time. This causes a loss of reimbursement and affects the overall revenue. Hence, all this can be avoided by having dedicated resources to constantly follow up and ensure claims are properly managed.
- Avoid common billing and coding mistakes – Implementing preventive measures in order to avoid common billing and coding mistakes helps a lot in bypassing the time-consuming and costly process of claim denial which is a much more an efficient approach. Increasing your reimbursements, it further helps in constant revenue generation as well.
- Have the right partner – having a team of trained expert in the front office staff to assist the accurate billing and coding process; makes your job half done. Starting from accurate and complete patient information, medical records, timely filling of claims, staying updated on the insurance claim process and changes; the right partner not only ensures constant cash flow but can easily reduce the chances of error.
Working on rectifying the denial of the claim and analyzing the reason, an operational extension resubmitting the claim also works on improving your ROI without any delay. in fact, a team of denial experts is solely responsible for denial management like processing the denied claim, resolving the issue, submitting an appeal and ensuring the reimbursement identifies and resolves claim denial much more efficiently.
Today submissions of timely and cleaner claims handled by medical billing experts not only make the billing process much easy but with the right operational extension assisting you also ensure cash flow constantly.
Today outsourcing is an effective option for claim denial management, stated Dr. Dipak Nandi, recipient of several entrepreneurial awards and a renowned personality in his field of work for his outstanding contribution to the healthcare industry.
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