How Are Your Claims?
The State of Claims white paper posted by Experian Health in October 2024 revealed that nearly 50% of denied claims are worked manually. How time consuming is that?
Follow up on claim denials can take anywhere from 15 minutes to several days, depending on the complexity of the services involved in the particular case. When does this lengthy process start? It commences when notification of the denial is received, which can take an additional few days to arrive. With the days spent merely transmitting information, this adds up to several days, weeks even, during which the provider is not receiving any payment for the services rendered. This delay can significantly impact the cash flow and overall financial health of the provider’s practice.
Some providers and facilities tackle this challenge in effective ways. Larger facilities usually have a dedicated team that focuses on managing claim denials, helping the revenue cycle run smoothly. Smaller facilities often depend on front desk staff to handle claim denials while also fulfilling other essential tasks like registration, payment collection, and scheduling. This heavy workload can overwhelm staff, causing important denials to be overlooked, which delays the resolution process and results in lost revenue.
Independent providers face a similar issue. With limited staff to manage daily office tasks like patient visits, report writing, and billing claims, denied claims often mean lost income, threatening their financial stability.
Some of these reasons are precisely why it is truly imperative that healthcare providers have an effective and efficient claim denial management process firmly in place. Providers want and wholeheartedly deserve to know, above all else, that the claims they are billing for are meticulously coded based on thorough documentation, that insurance verification is completed accurately, and that there is a dedicated team of personnel relentlessly working on their behalf to secure the funds that are rightfully deserved as soon as possible, without any unnecessary delays or complications!
Navigating the complexities of claim denials can be a daunting task for any organization. At Greenline Revenue Services, we specialize in Claim Denial Management Services designed to streamline your processes and recover lost revenue efficiently.
With our expert team, we analyze each denied claim meticulously, identifying patterns and root causes that prevent successful reimbursement. Our proactive approach not only addresses current denials but also implements strategic solutions to minimize future occurrences.
We understand that time is money; therefore, our dedicated professionals work tirelessly to appeal denied claims swiftly. Our extensive industry knowledge allows us to craft tailored appeals, increasing your chances of successful outcomes.
In addition to our comprehensive denial management process, we provide insightful reporting and analytics, enabling you to make informed decisions and enhance your claims processing workflow. This data-driven approach empowers your team to respond effectively to common denial issues, enhancing your overall revenue cycle management.
Choosing Greenline means investing in a partnership that values your financial health as much as you do. Let us take the guesswork out of claim denials so you can focus on what matters most—providing exceptional service to your clients and growing your business sustainably. Contact us today for a consultation and discover how we can improve your revenue cycle and reduce claim denial rates.
