Denial management services are very different from rejections. A lot of RCM service providers are equipped to handle rejections well, but struggle with denials. Denials happen when a claim is initially processed, but the payer later refuses to accept and pay for the same.
Denial Management Services is one of the most critical parts of RCM, as it directly affects the cash flow. Unfortunately, there is a lot of time wasted back and forth trying to handle denials, put forth appeals and understand the reasoning behind the denials. This is time that can be used effectively elsewhere.
Healthcare organizations that handle multiple payers also lose millions in denials and delayed payments due to denials.
Our denial management services handle denial requests and help you analyze the reasoning behind the same and improve the process to bring down the overall denial rate. By understanding the root cause of denials and analyzing vital data, your management can take corrective actions that will decrease the rate of denials in the future.
This is hence a long-term solution to increase your cash flow and make processes more streamlined and automated.
Our tools play a significant role in handling and analyzing such denial requests. These tools use advanced analytics and reports to ensure denials are handled as quickly as possible, to prevent any loss of revenue and delayed payments thereby ensuring a highly efficient Denial management.
Our tools and processes also shorten the payment cycle and improve collections, and as a result, revenue.