Medical billing is complex in nature and every organization deals with unique, but shared, challenges. Claim denials and rejections occur all too often and they can have a negative impact on your organization’s Revenue Cycle Management system, affect your cash flow, and disturb operational efficiency. The good news is that although there will always be some denials, many medical billing rejections can be avoided, which can have a substantial impact on your practice’s bottom line. Here are 5 ways to reduce the volume of claim rejections that you are experiencing at your organization.
Keep your billing team updated and trained
While this may sound like a no-brainer, too many organizations do not dedicate the time to make sure that their staff members have everything they need to be successful. From a new hire to a loyal employee, there are always opportunities for continued education, refreshers, and updates when things change that affect medical billing.
Implement automation into your practice
No matter how much you invest in training time for your staff, human errors happen and a simple missing field can cause a claim to be rejected. When you begin to automate some of your medical billing processes, you eliminate the chance that an incorrect code is inserted or a Member ID number is omitted. Automation can help to ensure that claims are properly processed at the first attempt.
Take the time to verify patient information
When you can improve patient data quality at registration, you are less likely to experience claim denials due to inaccurate information. This goes back to a simple error that can ultimately affect your organization in big ways. Take a second look at your processes and make sure that you have a structured way to verify every patient’s information before it’s too late and the claim is sent.
Track and analyze rejection trends
While using automated predictive analytics to flag potential denials and address them before claims are submitted is your best bet, identifying trends post-denial can help reduce future issues. Tracking and analyzing trends in the payer’s rejections and denials can help you figure out where the problem occurred and how to prevent it next time.
Outsource your billing to a team of experts
Outsourced experts can help manage your medical billing and ensure that it’s running as smoothly as possible. You don’t have to worry about overworking your staff and managing the process in-house when you have a team who specializes in what you need. Outsourcing is a valuable way to get your practice back on track, regain control over your billing, and ultimately get more time with your patients.
Whether you’re experiencing more claim denials than usual right now, a consistent high volume of claims that is deeply damaging your practice, or are just tired of the headache of something that you know is preventable, there are things you can do!
Whether you give your training program another look or bring on an outsourced partner, prioritizing the efficiency and effectiveness of your practice’s medical billing is integral to the overall health of your practice.
At Prosper RCM Solutions, we bring expertise, creativity, and savvy to the table so that we can get your practice in the best spot. We focus on your financial and patient goals and ensure that your medical billing is as healthy as possible.
Call (913) 599-9304 for more information about Prosper RCM Solutions.