The provision of complex care and services deserves reimbursement. An organized approach that is data driven will be necessary in this non-standardized multi-payer healthcare environment. To maximize timely claims reimbursement revenue, data analytics and a team-based approach are keys. Small or large, all hospitals can likely benefit with a return on investment in this area. Hospital leaders should develop and follow key performance indicators for claim denials and implement appropriate technology to help get the job done. Personnel should be dedicated to focus on this vital task.
This webcast will help you understand how to categorize denials and why the tracking and trending of denials and appeals matters. Denials management should no longer be solely a back-end function of the revenue cycle. With appropriate data analysis, processes can be examined and refined throughout an organization to allow for better revenue capture, clean claim submission, and improved efficiencies.
Why This is Relevant:
Cost control is a huge healthcare priority, but it is also crucial that hospitals not leak revenue as a result of leaving well-earned dollars on the table because of insufficient claim denials management processes. The claim denials management environment is complex with multiple payers. Moreover, it is possible that as much as a quarter of claims are being rejected or denied. As a result, claims denials may be costing healthcare organizations up to 5 percent of their net revenue stream.
During this exclusive RACmonitor webcast conducted by Dr. Banker, you and your team will…
- Gain a better appreciation of the need for an organizational categorization of denials;
- Understand the need to tabulate, track and trend denials and appeals data;
- Learn how reporting of denials/appeals data can help with organizational process improvement and with payer contracting; and
- Understand better the difficulty of decisions regarding "how to" capture metrics.