By Kelly Gooch |
Revenue cycle contract management software can be advantageous for providers looking to decrease claim denials and maximize reimbursement for their organization.
Ralph Catalano, senior vice president of operations for CareCloud: Take full advantage of your RCM vendor’s contract management software features. This is underused functionality. The steps may be somewhat time-consuming but the investment is worth it. Gather your payer contracts. Get a demo of the contract management software. Input the contract terms. Educate your vendor/partner about contract nuances (if they are providing insurance follow-up and denial management services for you). The software should identify and report on incorrect payments from the insurers. The potential discrepancies can amount to a significant percentage of practice revenue.