Examine previous claims. By scrubbing through former claims, providers are better able to tackle future issues by examining similarities between these former claims and current ones. Patterns may arise in terms of denials which can then be addressed and corrected so that future claims are correctly submitted the first time around. In turn, there are greater odds of better cash flow and fewer chances of having to deal with claims that need to be reworked.
Strategize. Developing a cohesive strategy with realistic goals to address denial management can improve a revenue cycle management’s team chances of success. Take the time to thoroughly evaluate personnel and current processes being utilized to determine which areas could benefit from some improvement.
Consider a single solution. While using multiple revenue cycle management providers or processes may have its use, developing a partnership with one provider can potentially result in improved efficiency and better financial outcomes.
This update is by Medical Accounts Systems, a full-service healthcare revenue cycle management company providing a number of services including insurance follow up and managed care disputes, physician reimbursement, hospital extended business office services, and more. For additional information on our services or for any questions you may have on topics such as medical debt collection, please call 877-759-6315.