Claim Denial Minimization – Unlock What You Need to Know

Claim Denial Minimization: The Medical Group Management Association (MGMA) reports even top-performing medical practices to deny 4% of claims MGMA, as many as 65 percent of denied claims go unsubmitted. It costs approximately $25 to resubmit a denied claim. To receive payment for submitted claims, we must investigate rejected claims, correct errors quickly, and resubmit within 90 days. This process helps maximize our reimbursement and ensures we do not miss any potential revenue. Failure to do so may result in delayed or denied payment. Neglecting to do so may result in non-payment.

Prevention

Prevention is key to reducing medical claim denials effectively. Therefore, the medical billing experts at ebix, Inc. ensure that every medical claim is “clean.” In simpler terms, a clean medical claim satisfies the payment criteria set by insurance providers on the initial submission. Of course, this meticulous process starts from the very first interaction. Therefore, patient registration must be fully completed, and all primary, secondary, and tertiary insurance policies must be validated.

Never Settle

In medical practice, it’s important to view a first-time claim denial as an opportunity rather than a norm. Every rejection is a chance to advocate for your practice, and being proactive in preventing future claim denials can make a significant difference. If a health insurance company denies a claim, it’s essential to take the necessary steps to appeal and reverse the decision. Not only can this help increase your revenue, but it will also ensure that your patients receive the proper care they need.

Instead of accepting a denied claim and moving on, consider standing up to overturn the decision and advocate for your patient’s well-being. This commitment can make a real difference in the healthcare industry. We take the time to investigate the reasoning behind the decision to reject the claim and minimize medical claim denials. When necessary, we offer extensive practice education and training sessions.

What we do:

• Conduct accurate demographic and insurance registration of patients.
• Meet timely filing deadlines.
• A reconciliation of medical services to match the procedure code.

Contact us for a Complimentary Consultation.

Download Brochure ebix Minimize Claim Denials PDF.