Like a lot of things in life, it’s better to catch a problem early before it snowballs. When it comes to a medical billing claim, getting it right the first time could be the difference in whether you ever see that money.
That’s because 50% to 65% of denied claims never get worked, according to the Medical Group Management Association. A lack of time or knowledge about how to effectively dispute denials prevents many practices from collecting all the revenue they deserve, adds the MGMA.
Avoid the cost and hassle of chasing down unpaid claims by preventing claim denials in the first place. The best strategies for early intervention include:
* Ensure claim accuracy before submitting them with automated billing rule software
* Catch problem areas and trends in your A/R performance early with modern analytics
* Prevent underpayments by effectively managing your payer contracts
Get the free report “6 Key Strategies to Medical A/R Management” for specific strategies and tactics to help you get the most from your accounts receivables.