Simple Tricks To Prevent Credentialing Related Denials
February 2, 2023
- Starting at as low as 2.95%
- 866-886-6130
- info@imedclaims.com
- Downers Grove, IL, USA
Denial Management is considered to be a pivotal aspect of revenue cycle management. It is the Plan B used by medical providers and billing companies to appeal denied claims caused by errors in the initial steps of the revenue cycle. This is why I-Med Claims LLC has a separate team to manage any denial claims and because the importance of Denial Management cannot be overshadowed. However, more focus needs to be paid by healthcare providers to ensure low account receivables with proper appeals and claim reimbursements.
Such an approach can assist medical providers to maintain a smooth workflow and contribute to a system that ensures prompt revenue collections. Once those revenues start to increase, you’ll see the results of our denial management services which target those scary medical claim rejections, and ensure efficacy in the revenue cycle management. As a result, your medical practice needs a denial management service that caters to all these requirements.
Denied Claims are truly a harsh reality for the financial stature of medical practices as they negatively impact revenues and the entire workflow suffers. Nevertheless, the probability of these denied claims can be minimized, and any claim denials as a result of minor errors can be appealed. This is why, at I-Med Claims, we ensure proactive appeals on the claims that do not go through. Such an approach enables us to increase your revenue collections and decrease your account receivables as much as possible. Therefore, you can easily outsource denial management to I-Med Claims and stop worrying about crippling revenues.
Well, I-Med Claims is not your average medical billing company offering meagerly adequate medical billing with a pinch of denial management. Yes, that’s right! I-Med Claims LLC has proper denial management gurus across the 50 states, handling more than 50 specialties with hands-on experience working in the domain. This is why it is important for medical practices to consider such an aspect while choosing a medical billing company for denial management. With us, you can get regular reporting with 24/7 support systems, offering the best communication that can take the performance of your practice to the next level.
In order to make the denial management process as smooth and effective as possible, we follow some essential steps to ensure optimum efficacy. These steps complete the essential requirement of the denial management process and contribute to better revenue collection.
This step involves the identification of the error or the mistake in the medical billing system that eventually led to the claim denial occurring in the first. Only after finding the root cause of the problem, one can eliminate the mistakes in the entire process, thereby appealing the claim denial.
The second step in the denial management process involves managing the emergency situation where claims denials are now threatening the overall revenues of the medical practice. This step is at the core of the situation because focus and determination are required for damage control
The third step involves monitoring the effectiveness of the denial management and its results. Such an approach enables you to see the results in real time and check to see if any further action is needed for the purpose of controlling the damage to the revenue of the medical practices in the United States
Lastly, we aim to prevent any similar or related error from causing distress to the revenue collection of the firm. This prevention mechanism has enabled us to save and secure a large number of medical practices from the high potential of claim denials in the recent medical billing system in the US
The term denial management represents the act of appealing and managing denial claims that can occur due to numerous reasons.
A claim denial can occur due to many reasons, the most prominent of which include errors in eligibility verification and breakdown of benefits or using wrong codes for the charge entry of a specific treatment offered.
Whether it is your internal practice medical billing or family practice medical billing, the top 5 denials are the following:
Denial management is a domain in medical billing that caters to the claim denials occurring in the revenue cycle. However, account receivables includes all claim denial and unfiled claims that are yet to be received by the medical practice from the patients or the insurance networks.
To conclude, one can claim denial management to be a core aspect of revenue cycle management. This is why I-Med Claims LLC is focused to provide optimum denial management to make sure your account receivables are always under control, and you are able to collect maximum revenues through prompt claim reimbursements. Such an approach is vital to maintaining a smooth workflow that enables practices to perform at their best.
I-Med Claims LLC is a professional medical billing company that specializes in all steps of the revenue cycle. This is why we are offering end-to-end revenue cycle management, which means that we’ve got you covered completely in a number of ways. You can easily manage your claim denials by partnering with the denial management experts and consultants working at I-Med Claims LLC.
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