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Wednesday May 21, 2014
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.
Industry Facts:
  • 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
What causes claim denials?
There are various reasons due to which payers reject medical claims … Read More...
How to reduce occurrence of denied claims?-
Tackling claim denial with MBC: has the largest consortium of certified coders and billers, helping practices maximize revenue and minimize claim denials.

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

Get The Best Solutions In RCM Consultancy
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888 357 3226
Charge entry analysis + Tracking payer denials + Tracking claim status
Top 7 benefits of outsourcing your Billing
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.
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...
Efficient practice management equals to higher revenues!
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