Top reasons for claim denials with technical errors

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Information about Top reasons for claim denials with technical errors

Published on June 3, 2019

Author: jennyvergeese

Source: slideshare.net

1. When it comes to healthcare reimbursements, there is nothing more frustrating for practices than claim denials. In order to survive in business, it has become vital for practices to track and analyze trends in payer denials and fix the issues as quickly as possible. According to the Advisory Board’s Revenue Cycle Bench- marking survey, approximately 61% initial denials are caused due to technical/demographic errors, followed by 16% due to eligibility and 12% due to medical necessity errors. http://www.247medicalbillingservices.com

2. Dealing with claim denials Claim denials create a serious cash flow problem for practices and therefore, one of the best ways to overcome this problem is to appeal denied claims. At times, practices fail to pursue appeals due to lack of time and commitment from their staff. Some practices also lack the money to hire experienced coders and billers for timely billing and collections. Reducing account receivable Practices also lose revenue due to rise in A/R days. however, with timely follow-ups of claims after submission, accounts receivable days can be reduced. Providers just need to keep a track of how long claims are going unpaid by the payers and make necessary changes to overcome this problem. http://www.247medicalbillingservices.com

3. About 247 Medical Billing Services: We are a medical billing company that offers ‘24/7 Medical Billing Services’ and support physicians, hospitals, medical institutions and group practices with our end to end medical billing solutions. We help you earn more revenue with our quick and affordable services. Our customized Revenue Cycle Management (RCM) solutions allow physicians to attract additional revenue and reduce administrative burden or losses. Contact: 247 Medical Billing Services Tel: +1 888-502-0537 Email: info@247medicalbillingservices.com http://www.247medicalbillingservices.com

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