| Medical Billing Insights |
"Simple Solutions to Your
Reimbursement Problems"
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| Wednesday, March 20, 2013 |
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How much do radiology practices pay to manage the
average denial? |
| Unlike earlier when radiology groups did not pay much attention to their revenue cycle, with increasing payer denials and regulations they are now forced to take every possible step to ensure efficient billing. |
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| Industry Standards |
| It costs $25 to $30 to manage the average denial |
From the total claims filed nearly 30% get denied, however any rate over 10%
should be evaluated closely |
Most radiology groups will be at a competitive disadvantage without a good system capable of minimizing denials and resolving them quickly when they do occur.
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| Read More... |
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Most frequent types of denials
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| Type of Denials |
Average Percentage of Denials |
| Medical Necessity |
18% |
| Procedure Bundling |
11% |
| Duplicate Claims |
14% |
| No Prior |
13% |
| Authorization |
10% |
| Untimely Filing |
10% |
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| Read More... |
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| Get The Best Solutions In RCM Consultancy |
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for Free Consultation
888 357 3226 |
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Reducing denials with MBC as your radiology billing partner!
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Few steps doctors can take to increase patient volumes strategically :
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♦ Proactive & On-going process which reduces the probability of denials from the start |
| ♦ Patient data management & consultancy to help integrate data into the billing software |
| ♦ Regular reports & accuracy checks necessary for accurate claim submissions |
| ♦ Monitoring of claims submitted & regular reports on the status of all outstanding claims |
| ♦ Analysis of denial trends by mapping patient accounts & claims to specific payers plans |
♦ Analysis of payer trends ensuring payments match with payer contracts plus reports which depict
incorrect payments from a certain payer several times |
| ♦ Payer specific guidelines constantly updated to prevent unnecessary denials |
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| MBC’s billing services can help reduce your denials with the help of the following tools |
Charge entry analysis + Tracking payer denials +
Tracking claim status and resubmissions + In depth analysis |
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Radiology groups with maximized and accelerated cash flows!
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