Getting in Front of the Problem: How Can Hospitals Empower Denial Prevention and Management?
Claim denials are a pervasive and persistent problem for hospitals, as up to 1 in 5 claims is delayed or denied.[i] The impact of denials on a hospital's bottom line could be substantial — roughly 3 percent of net revenue may be attributed to denials, according to research from The Advisory Board Company.[ii]
It is no longer acceptable to manage each denied claim individually, or rely on the back-end revenue cycle managers to fix problems. Dwindling reimbursement combined with increasingly stringent payer requirements necessitates a more deliberate, proactive and pre-emptive approach.
The key is a three-pronged solution: denials prevention, denials management and denials analysis. With the right tools and support, it is possible to identify where errors and inefficiencies occur among the numerous touchpoints of the revenue cycle and target solutions to both prevent and manage denials along the way....
The "Getting in Front of the Problem: How Can Hospitals Empower Denial Prevention and Management?" report unveils how your organization can utilize this three- pronged approach to reduce denials. Fill out the form to receive this report.
[i] "Automated Billing/Payment Process Can Reduce U.S. Health Care Costs without Sacrificing Patient Care." PNC Financial Services Group, November 2007
[ii] "Driving the Denials Management Initiative, a Renewed Focus." The Advisory Board Company, Washington, D.C., web conference, July 2009