Denial Management Matters
According to a recent HIMSS analytics survey, more than 30% of providers still use some form of manual claims denial management. Additionally the MGMA estimates that it costs on average $25 to rework every denied claim. A strong denial management process goes well beyond simply tracking, appealing, and correcting denied health insurance claims.
At RevenueHealth we’ve found that billing departments can only succeed with a two-pronged approach to denial management. Give your billing team the tools and data they need to get claims paid, while simultaneously providing timely and actionable data to all parts of the revenue cycle, stopping the inflow of new denied claims.
- Existing PM system reports and clearinghouse dashboards do not tie denial data together with claim/encounter data, bringing you to the source of your denied insurance claims
- It’s critical that the billing team provides constant data to the front end, providers, and system managers so they can improve processes
- Even if you have smart, data minded resources in the practice, it can be difficult to gather the data needed to inform and make decisions
- Aggregating data up to hospital, practice, facility, department, provider, CPT levels is cumbersome and time consuming (or non-existent)
- The ability to fold-in new data requires IT and Management resources that are not always available
- Rapidly deployed analytics and workflow management tools that give you instant clarity and insight into your practice billing performance at every level
- Instant focus and benchmarks that help you drive priority in the organization
- Detailed, actionable data that allows you to get right to the source of the issue and eliminate it
- Comprehensive performance measurement for billing staff outcomes
- Comparative analytics over time. See your progress on screen!