Top Ways to Improve Denial Management Process and Accelerate Revenues
With a strategic approach, Claim rejections can easily be prevented. Though achieving a zero percent claim rejection may be near impossible, reducing claim rejection even by a fraction of a percentage would have a significant impact on your revenues.
Claim rejections are amongst the key reasons that negatively impact the bottom-line of a healthcare organization. Consider the below statistics.
With a strategic approach, Claim rejections can easily be prevented. Though achieving a zero percent claim rejection may be near impossible, reducing claim rejection even by a fraction of a percentage would have a significant impact on your revenues. To prevent claim rejections, it is essential that we understand the most common reasons for rejections and take necessary action to avoid them in the future.
Below are the top reasons for claim rejections.
Working on claim rejections and adjustments increases operational costs, while significantly impacting cash flow and revenues. That’s why, Hospitals and Medical Practices need to take a proactive approach to improve efficiencies.
With constantly evolving regulations and guidelines, it is quite a challenge for Hospitals and Medical Practices to effectively manage the revenue cycle processes. Outsourcing to Medical Billing Companies like SolvEdge can be a strategic solution to prevent claim rejections. Our revenue cycle team comprises of SMEs, technologists, strategists, certified and experienced billers and coders who work together to maximize your revenue cycle performance. To learn more about how SolvEdge’s Medical billing services can help reduce rejections and drive up your revenue cycle curve, talk to our team.
From our humble beginnings as a healthcare start-up—to becoming a full-blown healthcare-exclusive digital transformation provider, our journey has been quite a remarkable one. Today, SolvEdge is a leading-edge Healthcare services and solutions provider—trusted by 450+ Hospitals, 3500+ Physicians and millions of patients across the globe.