| Medical Billing Insights |
"Simple Solutions to Your Reimbursement Problems"
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| Wednesday May 21, 2014 |
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| How much do medical practices pay to manage the Average Denial? |
Denied claims can be quite exasperating for billers as well as providers. Not only valuable time gets consumed in claim re-submission but it also costs money to manage an average denial.
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| Industry Facts: |
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- According to the Medical Group Management Association, approximately $25 to $30 gets spent on managing an average denial
- Nearly 30% from the total filed claims gets denied due to minor errors in coding and technical aspects
- Medicare happens to have the high denial rate at 4.92% while lowest denial rate is of Cigna at .54%
- As per an estimate by the CMS, there are chances of claim denial rates increasing by 100% to 200% in the early stages of ICD-10 coding
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What causes claim denials?
There are various reasons due to which payers reject medical claims …
Read More... |
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How to reduce occurrence of denied claims?- Read More... |
Tackling claim denial with MBC:
Medicalbillersandcoders.com has the largest consortium of certified coders and billers, helping practices maximize revenue and minimize claim denials. |
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MBC also specializes in:
Analysis of financial impact of denials
Finding causes for accumulation of denied claims
Providing feedback through financial impact analysis of denials and root-cause analysis
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| Read More... |
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| Get The Best Solutions In RCM Consultancy |
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888 357 3226 |
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| Charge entry analysis |
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Tracking payer denials |
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Tracking claim status |
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| Top 7 benefits of outsourcing your Billing |
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If you have given up the hope of balancing patient care and medical billing in an effective manner, outsourcing can bring an end to all your worries. Outsourcing is like a boon for practices lacking time, money and resources.
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Top 7 benefits of outsourcing your medical billing needs:
From obtaining timely payments to reduced claim denial rates, outsourcing has various benefits when compared to managing an in-house billing department…Read More... |
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| Efficient practice management equals to higher revenues! |
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