Systematic collection of necessary data is the first requirement to avoid claims denial. Closely related to the accounts receivable of any health care facility, denial management necessitates relevant data and analysis that offers several opportunities for improving the processes and enhancing practice revenue.
Foremost Factor of Denial Management: Identifying and Resolving the Causes
It is through facilitating smooth capturing, identifying, and correcting the various root causes that are reasons for claims denial that they may be properly managed and the issues effectively resolved.
An effective denial management service must be capable of improving productivity through event-driven, intelligent, automated work flow. It offers powerful dashboard reporting which will pinpoint claims processes, helps identify trends, and assists reveal the volume and source of denied claims.
Denial Management- the Key Functions
- Identification of root causes for denial
- Collection and interpretation of patterns help quantifying causes and impact of denials
- Cash flow maximization
- By identifying causes for denial that greatly impact financial stability through effective reporting, cash flow can be accelerated
- Tracking, prioritizing, and appealing denials
- Generation of appeal letters in accordance with governmental statutes in a way that favors the practice
- Assist accurate work flow
- Gathering data about denial appeals leads to increased recovery of amounts
- Identification of business process enhancements for avoiding future denials
Resolutions Need to be Handled Accurately
By making use of data that is available from existing systems, denial management keeps tabs on all the activities related to claims. It is also possible to monitor individual productivity as well as effectiveness of denial resolution.
Problem Areas Have to be Addressed
Robust automation and reporting lets you monitor, understand, and resolve denials for maximizing financial results. Aggregating denial information from varied sources, denial management will include elaborate denial reporting that helps you pinpoint the problem areas. It also lets you identify root causes, enabling you to facilitate changes which will lead to reduction in future denials.
Efficient Denial Resolution Management
Mapping the several reasons for denial into small sets of categories, efficiency of denial management resolution can be achieved. Integrated work flow tool helps avoid manual processes, thus driving denials to appropriate departments to be resolved.
Why Rapid Care?
Rapid Care Transcription Pvt Ltd, the pioneers in health information technology services, have been providing efficient revenue cycle management services to medical practices and providers.
By availing the denial management services from Rapid Care, you will be able to automate your work flow and improve efficiency. We ensure that your practice is enabled to reduce controllable write-offs and increase payment recovery. Visit our website www.rapidcare.net