Tag: Claim Denials

AI difference in Healthcare

The AI Difference in Revenue Cycle Management

Effective Revenue Cycle Management (RCM) is non-negotiable for all health care practices, but despite this, clinics across the board are reporting increasing levels of dissatisfaction with their current RCM tools. According to a 2019 KLAS report, more than one-third of the 140 respondents to their RCM survey said they wouldn’t purchase their vendor’s services again, […]
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Mastering Revenue Cycle Management

Mastering Revenue Cycle Management

Doctors are fond of complaining that they didn’t go to medical school in order to practice business, but independent physicians do spend much of their time on their practices’ finances. That requires mastering revenue cycle management (RCM), the financial process practices use to administer all the functions associated with claims processing, payment, and revenue generation. […]
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Hospice Claims

Prevent Billing Errors to Reduce Hospice Claim Denials

Effective revenue cycle management can reduce hospice claim denials, particularly those associated with billing or documentation errors. In addition to slowing down payments or losing revenue, submitting inadequate or incomplete required written documentation is a sure-fire way to bring surveyors or auditors to a hospice’s doorstep. As regulators increasingly fix their eyes on the hospice space, providers […]
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Claim Denials

Root Causes Linked to Claim Denials

Three revenue cycle tips are provided to reduce denied claims. Claim denials represent millions of dollars in lost and delayed net reimbursement annually. According to the American Medical Association (AMA), cost estimates of inefficient healthcare claims processing, payment, and reconciliation top out at $210 billion per year. Claim denials are so common, they’ve become a fixture […]
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ICD-11

ICD-11 Is Looming – 8 Steps To Prepare

The newest version of the International Classification of Diseases, ICD-11, is set to take effect in January 2022, according to Software Advice, a business solutions company. Software Advice created a timeline to help providers prepare for the transition: December 2019: Become familiar with the new International Classification of Diseases chapters and codes. January 2020: Communicate with revenue […]
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Emergency Claim Denials

How to Approach Emergency Department Claim Denials

By now, many hospitals have received denials for emergency department level-of-care coding. We could legitimately ask, “how did this happen?” Today we shall address how it started, why it’s important, and potential institutional responses. Denials for emergency care are not new. The spectrum of denials and the audacity with which payers deny claims now strains […]
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Medical Claims

5 More Reasons Claims Are Denied

There are the standard reasons medical claims are denied, such as putting the wrong modifier on a code or putting the diagnoses in the wrong sequence. But did you know that some reasons are not the fault of medical coding? 5 Ways Your Medical Claim Can Be Denied Denials can be cause by more than an […]
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Denial Management Services

How to Prevent and Manage Claim Denials

For many healthcare providers, claim denials are a frustrating cost of doing business. Each year, around 5-10% of medical billing claims are rejected (possibly more). With each claim costing around $25 to rework, providers lose billions in eroded revenue and productivity. Any revenue leakage is bad enough, but the shift towards value-based care means tighter revenue cycle management […]
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Medicare Quality & Cost

Better Quality, Lower Health Care Costs – Providers & Payers Share Risk

Denied claims are one of physicians’ chief complaints when it comes to dealing with payers. To a certain extent, every practice deals with claim denials. It’s those practices that eliminate the most common reasons that experience a smoother revenue cycle and find greater financial success. News Brief A capitation payment model results in better value […]
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