3 Tips To Reduce Claims Rejection | Medical Billing Software

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Tips to Reduce Claim Rejections
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? Average claim denial rates range between 5 to
10 ? Government Accountability Office claims
1/4th of claims are denied ? However, 90 of
claim denials are preventable ? Medical
practices spend 15,000 on resubmitting denials

Source https//revcycleintelligence.com/news/to
p-4-claims-denial-management-challenges-impacting-
revenue Source https//www.advisory.com/resea
rch/financial-leadership-council/at-the-margins/20
14/12/denials-management Source
https//revcycleintelligence.com/news/8-tips-for-a
voiding-denials-improving-claims-reimbursement
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Typical Reasons for a Claim to be Rejected
? Missing/incorrect information, including DOB,
incomplete form, etc. ? Incorrect coding ?
Out of date Information ? Duplicate claims ?
Ineligibility ? Time limit passed
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The Solution
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Automated Claims Management Process
? Manual claims management costs 4 more than
electronic medical billing solutions ?
Healthcare providers can save 7.9 billion by
switching to automated claims management ?
Reduces errors in entering diagnostic codes and
insurance policies ? Streamlines documentation
process ? Flags errors so you can resolve them
before claims get submitted
Source https//revcycleintelligence.com/news/ele
ctronic-claims-management-adoption-to-save-provide
rs-7.9b
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Stay on Top of Changes
? Maintain current information of patients,
including insurance card and demographics ? Use
practice management software that can be
integrated with EHR/EMRs of your specialty ?
Use solutions that catch mistakes in real time ?
Do not miss deadlines for claims management
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Educate the Team
? Speak to the team to increase reimbursement and
reduce denials ? Set up policies to check
reimbursement ? Track claim denial rates of
individual team members ? Investigate reasons
for claim denials to prevent further denials
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How Does CollaborateMD Help Reduce Claims?
? Seamless integration of products and services
with EHR/EMRs ? Customizable solutions so that
practices can choose an EMR/EHR that suits them
? 100 real-time claim submission ? Constant
analysis of claim rejections to prevent data
entry errors
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CollaborateMD Features
? Interactive dashboard analytics ? Freedom of
Choice integration with top EHR/EMR Partners. ?
100 real-time claims submission ? 99
first-pass claim acceptance rates ? Robust
appointment scheduling system
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Looking for a top of the line medical billing
software system?
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Visit www.collaboratemd.com Call 877-480-6517 for
more information