How to Avoid Claim Denials in your Practice.pdf
- 1. How to Avoid Claim Denials in your Practice? HTTPS://WWW.247MEDICALBILLINGSERVICES.COM/
- 2. How to Avoid Claim Denials in your Practice? HTTPS://WWW.247MEDICALBILLINGSERVICES.COM/ Undoubtedly, the average denial rate was 11.1% in the third quarter of 2020 which was further increased to 23% with increasing burden of low reimbursement If you do not want to be part of this number, prevention is the key to keep your medical billing and coding better to avoid the increasing claim denials. Unless you prevent it from the beginning, it will seriously impact your practice. Obviously, payers would love to delay or reject the payment, and they will do it when you give them an excuse. So, while you lose your revenue, it will eventually hinder your productivity and time lost in claim investigation and resubmission. But don't worry because 90% of the denials are preventable with best practices and one can work proactively to prevent such rejections. While putting the proactive process into action can be challenging, simple operational changes can help you save money and time. Read more…
- 3. How to Avoid Claim Denials in your Practice? HTTPS://WWW.247MEDICALBILLINGSERVICES.COM/ Here are six proactive ways to avoid claim denial in your practice. 1. Educating and Communicating with the Staff Similar to any other business, internal and external communication is the key to success, including the healthcare industry. Every member must be on the same page, from the front office team to the medical staff and the back office. In addition, each of them must understand their role for the practice to be successful. 2. Ensure Insurance Verification before Service The need for early verification before the service cannot be overstated in the healthcare system for your practice's financial success. It will prevent claims not only from denials but also write-offs. Whether a patient is a regular or a new one, always verify the insurance. Even a long-time patient can undergo insurance change for switching jobs, sudden job loss, retirement, the beginning of Medicare, switching between insurances, and other factors affecting the coverage.
- 4. How to Avoid Claim Denials in your Practice? HTTPS://WWW.247MEDICALBILLINGSERVICES.COM/ 3. Knowing Your Payers Most providers are willing to accept over 20 insurance plans. However, within similar plans, some variations change the allowable and the items that can be reimbursed. Also, every provider has to enrol in the plan before they reimburse. 4. Proper Documentation The implementation of ICD-10 now requires you to be more specific with the documentation. No longer are the shot hand notes in the documentation accepted. More than ever, accurate and proper documentation is a must for any service to ensure no claim denial, and you get paid appropriately for the services rendered.
- 5. How to Avoid Claim Denials in your Practice? HTTPS://WWW.247MEDICALBILLINGSERVICES.COM/ 5. Leveraging Technology While it is essential to invest in Practice Management and/or Electronic Health Records (EHR) system, it is futile to have it unless used across the practice. This is because the technology and the software are expensive, and learning them is time-consuming. However, if it is fully integrated and every staff knows how to use it to its full advantage, crucial information is never lost. 6. Learning from the Mistakes One of the critical areas to ensure no repeat mistakes in claim denial is learning from the mistake. There are times when a few steps are missed while coding and filing for the claims in a rush. But with the healthcare industry and its rapid changes in the regulations and policies, these mistakes can be pretty detrimental to the practice. So, keep going through the documents when claims are rejected and find the errors, so they are not repeated. The devil is in the details when it comes to medical billing and coding.
- 6. How to Avoid Claim Denials in your Practice? HTTPS://WWW.247MEDICALBILLINGSERVICES.COM/ How to Ensure Cost-Effective & Efficient Denial Management? Training your staff regularly and updating the technology and software can be time-consuming and costly. Moreover, with the ever-changing rules and regulations in the healthcare system, keeping up-to-date can be another roadblock. In all such scenarios, one of the best and most effective ways to ensure the full proof revenue management cycle is outsourcing medical billing services to an expert company like 24/7 Medical Billing Services. This outsourcing partner have a dedicated team that handles the claims, processes the denials, and follows up on them until it is paid. In fact, the experts of this outsourced team ensure that your practice becomes profitable and sustainable by identifying the root causes for denials, boosting the revenue cycle team, and reducing the backlog while following the industry's best practices.
- 7. How to Avoid Claim Denials in your Practice? HTTPS://WWW.247MEDICALBILLINGSERVICES.COM/ About Us: We are a medical billing company that offers ‘24/7 Medical Billing Services’ and support physicians, hospitals, medical institutions and group practices with our end to end medical billing solutions. We help you earn more revenue with our quick and affordable services. Our customized Revenue Cycle Management (RCM) solutions allow physicians to attract additional revenue and reduce administrative burden or losses.
- 8. How to Avoid Claim Denials in your Practice? HTTPS://WWW.247MEDICALBILLINGSERVICES.COM/ Media Contact: 24/7 Medical Billing Services Georgia 3001 Greenfield Drive, Marietta GA Ohio 28405 Osborn Road, Cleveland, OH 4414030068 Texas 2028 E Ben White Blvd, #240-1030 Austin TX, 78741 Delaware 16192 Coastal Highway, Lewes, Delaware 19958, United States Phone no / Fax : +1 888-502-0537 Email us: info@247medicalbillingservices.com