Managing claims denials at your medical practice can be a difficult task. Practice Management Software or Claims Denial Management Software helps streamline the billing process so you can ensure timely payment for maximum revenue.
Here are 3 steps to help you manage claims denials at your medical practice and start receiving timely reimbursements.
- Ensure that all patient demographic and insurance information is entered into the EHR accurately.
Correctly capturing patients’ demographic and insurance information is the first step to successfully billing claims and avoiding denials. Insurance companies will check this information against their records during the claims reimbursement process and may deny claims if demographic or insurance information is incorrect. Train front desk staff and registrar personnel on how to capture and enter this information as accurately as possible.
- Obtain prior authorizations when required by insurance carriers.
Insurance payers often require prior authorization for high-value services and drugs. Obtaining this prior authorization information from the carrier prior to billing the claim will help ensure that the claim has all of the information it needs to be paid and will reduce the chances of a claim denial. Implementing a streamlined process among your billing team to obtain prior authorizations is an important consideration to manage prior authorizations.
- Proactively identify and review denials.
Implementing a process to proactively identify and work denials is critical in the denial management process. Request that a member of your billing team run denials reports and check claims statuses frequently to ensure denials are worked and resubmitted in a timely manner. It is important to make sure denials are worked quickly so payments can be received as fast as possible for maximum reimbursement.
There are a number of steps you can take to reduce claims denials and get paid for the services your practice renders. iPatientCare’s efficient billing workflow makes it easier to identify and work denials to maximize reimbursement potential for practices. Our expert revenue cycle management team is also available to manage all aspects of billing, including denial management and follow-up.
If you would like to see how iPatientCare’s Practice Management software and or Revenue Cycle Management services can help your medical practice schedule a demo or contact us today.