Denial Prevention and Increased Staff Efficiency Benjamin Franklin is credited with having coined the phrase, “An ounce of prevention is worth a pound of cure.” It’s as relevant today as it was in 1736, especially when it comes to healthcare payor denials. In a recent survey* reported by Becker’s Healthcare, over 500 Chief Financial Officers
Preventing and Managing Denials More Efficiently It’s no secret that claim denials can greatly affect the revenue cycle and profit loss. While appeals can be time-consuming and costly, it’s better than receiving no reimbursement at all. However, learning from past claim errors to avoid future denials with permanent revenue cycle improvements is the ideal solution
Organizational Techniques to Maximize Follow-Up Staff Efficiency Nothing is going to completely eliminate payor denials. In fact, denials are on the rise. According to a survey of 131 hospital executives* conducted in Apr-May of 2021, they reported a 20 percent increase in claim denial rates in the past five years. The average denial rate shown
Isolating Claim Defects and Preventing Denials with Automated Process Improvements Errors and defects in medical claims are inevitable. A small percentage of them will eventually turn into a denial. How you handle defects and exceptions, however, can lead to significant dollars being delayed, or lost entirely, due to the additional work being required to collect
Creating Permanent Change in Revenue Cycle Management… Denials Then and Now In the early days of denial management, the flow of rejected payments or underpayments was typically dealt with as a reactionary defense measure. Using technology to implement denial prevention strategies took a back seat to working denials after they had taken place. For most
