Here's how to streamline operations and save time that can be put back into treating patients.
Many practices feel powerless as claim after claim is denied. A closer look, however, reveals that many denials are avoidable. Fix those leaks and you’ll see immediate return to your bottom line. What’s more, you’ll streamline operations and save time that can be put back into treating patients. Here’s how you can get started. For more information on preventing denials:Â The leading causes of denials and how to prevent them
Audit for risks
Audit your practice to see if you’re at risk for any of the most common reasons for denial.
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Train and retrain staff to recognize and be vigilant around the key error points that lead to denials.
Revenue cycle managment technology
Consider revenue cycle management technology, which when properly integrated with your EHR and/or practice management system, can automate critical aspects of the billing process.
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Track your progress
Start benchmarking your progress; see how much profit you recoup by stopping leakage that is caused by denials. Focus on “denial rate,” which the American Academy of Family Physicians says should be between 5% to 10% on average. Less than 5% is more desirable.
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