Denial Management Services
Understanding Denial Management in Healthcare
Denial management in healthcare is a crucial process focused on resolving denied medical claims. It’s essential to differentiate between denied and rejected claims. Rejected claims haven’t been processed due to errors and need correction and resubmission. In contrast, denied claims have been processed, but the payer has refused payment.
sTRATEGY
Key Strategies in Denial Management
- Denial Volume and Pattern Analysis: Understanding the scale and root causes of claim denials.
- Collaboration with Insurance Providers: Staying current with the latest insurance norms and procedures.
- Denial Evaluations: Assessing denials based on factors such as claim age, expiration, and adherence to deadlines.
- Statistical Analysis: Analyzing denials based on variables like payer types, service providers, and compliance with ICD 10 standards.
- Continuous Trend Analysis: Regularly identifying new patterns in denials related to contracts, enrollment, and coding.
Why Opt for InvicieQ Denial Management Services
InvicieQ’s approach to Denial Management involves comprehensive data and trend analysis, crucial for preventing future denials. Outsourcing to InvicieQ brings benefits like expert problem-solving, efficient workflows, and significant cost savings through offshore delivery.
PROCESS
Denial Management Process at InvicieQ
- Identifying the reasons for claim denials.
- Investigating unpaid or rejected claims.
- Monitoring common denial reasons across various health insurers.
- Implementing structured appeal processes for denials.
Unleash the Full Power of Data
Everything you need to convert, engage, and retain more users.
25%
Reduction in cost to collect
20%
Increase in NPR
30%
Increase in patient satisfaction
BENEFITS
Benefits of InvicieQ Denial Management
- A dedicated team specializing in claim resolution.
- Advanced analytics to reduce and prevent future denials.
- Comprehensive policies for adjustments and write-offs.
- Regular support calls for immediate resolution of issues.
Up to 50% cost reduction through offshore delivery efficiency.
Ready to get great results?
Contact us today to discuss how our tailored solutions can streamline your revenue cycle and help your practice thrive.
We look forward to becoming your trusted partner in financial success.