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Tuesday April 08, 2014
Does your billing department regularly follow up denials?
Practices end up with huge revenue losses, when they do not bother to follow up claim denials.
Industry Facts State:
  • Increasing denial rates among private insurers range from a high of 5.07% (Anthem Blue Cross Blue Shield) to 1.38% (Regence)
  • Even a 1% denial rate represents a considerable sum of money to a physician
  • Various practices denial rates can go up to 10%; which they do not appeal resulting in huge revenue losses and write offs
  • Statistics in 2014 reveal that up to 25%- 30% of claims submitted are denied due to errors which can be easily recognized and managed
  • Out of the 30% claims denied; 60% are never sent for resubmission to payers
  • 55% of in-house billers have never appealed a denied claim
Why billers do not appeal denied claims? Read More...
What is lost when practices do not appeal?
A practice in Chicago by appealing a single type of underpaid claim recovered $19000 within a time frame of 6 months.

Managing medical denials-
Streamlining your claim appeal procedures by.. Read More...

Follow up your denials with MBC’s claim management process

Measuring number of claims denied

Reviewing health insurer explanation of benefits.

Identifying correct reason for denial

Determining if claim needs to be written off, or is appealable, or can be billed to the patient

Read More...
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MBC = Highly experienced, certified coding and billing professionals, specific to your specialty resulting in appropriate claim submission and constant follow up of denials + Increase in practice revenue
 
 
Re-define staff roles clearly in 2014 to help improve your practice work-flow!

A practice’s workflow comprises of the set of processes it needs to complete, the people or other resources available for these processes, and the communications between them. However at times the most difficult question at a practice becomes identifying- “which individual is responsible for a particular job”.

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Efficient practice management equals to higher revenues!
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