3 Strategies to Reduce the Burden of Administrative Denials
Dealing with administrative denials is an expensive hassle. Denials are a persistent problem at every healthcare facility. In fact, according to a Yale Journal study, “Upon initial submission, healthcare claims are denied at a rate of approximately one in seven.” This means that 200 million of the 1.4 billion claims submitted each year are initially denied.
How can you minimize denials through proactive denial prevention and management?
Administrative Denial Prevention and Management
Though there’s no single cause — the root cause of denied claims exist throughout the healthcare revenue cycle — your facility can still lessen the impact of administrative denials through preventative measures and intelligent automation. Here’s how:
- Integrate external data. Manually inputting external data, such as accurate third party insurance policy information and demographic updates, is a time-consuming, tedious task. This inefficiency can lead to billing delays, inaccurate reporting, and costly denials. With third party payer search services from Databound Healthcare Solutions, healthcare facilities can benefit from automated data integration and migration across systems.
- Automate manual updates. Automated data input and migration leads to increase interoperability which gives your organization access to the systems they need. This type of streamlined automation saves staff valuable time on tedious tasks (and minimizes human error). Your team can gain insight and control of processes by implementing a tool like EMUE™.
- Track unpaid claims and initiate collections. Some patients do not know they are covered by health insurance and in turn, fail to provide insurance information. Your healthcare facility may not have the resources to manually collect insurance or third-party payer information. Services like reCoverTM can help your facility find unpaid claims and recover unclaimed revenue.
- Get ahead of pervasive denials with healthcare revenue cycle workflow automation. Your healthcare facility can reduce the burden of administration denials, and benefit from a significant increase in reimbursements on uncompensated care.
Databound Healthcare Solutions automates and streamlines hospital revenue management tasks and business processes to give our customers more efficient operations and increased revenue. Visit our website to learn more.