Improve the Financial Performance of Your Organization by Incorporating Denial Management

Here’s a sobering fact: Rejected and forgotten claims are one of the biggest problems faced by Medical Billing Companies and Physician groups. According to AARP or the American Association of Retired Persons, 200 million insurance claims are rejected each year—and that is costing your organization millions of dollars as well. Are you serious about improving your financial performance? By incorporating denial management in your financial system, you can ensure that each claim is resubmitted and corrected so that you get paid.

Denial management refers to an established and efficient system of dealing with rejected and unattended insurance claims. Some of these denied insurance claims are many years old; they have gone unclaimed for a long period of time simply because they have been forgotten about, buried in other paper work, or can’t be dealt with by your existing billing team. Every denied claim means lost money. It’s time to hire an offshore medical billing company to take care of your denial management functions.

One of the best medical billing companies in India has over 16 years of experience. They are twin ISO-certified, compliant with the updated HIPAA rules, and are a certified member of the HBMA or the Healthcare Business Management Association. They were also recently certified by SSAE Type 2 for quality and compliance controls. They take in clients of all sizes, from huge hospitals to small-time organizations. By partnering with them, you get to save time, energy, and money. They can accept any project as soon as possible because they have the people and the systems in place—which means shorter turn around and faster ramp-up!

The first thing they do is resolve any issues that leads most of your insurance claims to be denied. By revealing the weakness in the coding process and establishing a trend between individual payers, future denials are reduced and the accounts receivables cycle is shortened. This ensures a higher rate of acceptance for first insurance claim submissions. In the event that a claim is denied, they follow up with the insurance and resolve any issues with the claim so that it may be resubmitted for approval. They will also handle denied claims that have been sitting for years and were never resolved.