- July 12, 2020
- Posted by: Thomas Anderson
- Category: HME Billing
In the HME billing process, one of the most complicated aspects that every healthcare practices have to go through is the denial management process. According to a research by the Advisory Board, Healthcare organizations annually losses a range between 1 percent of net patient revenue to as high as 4 or 5 percent from denial claims and write-offs; which for some healthcare practices can equate around $2 million to $3 million annually; which is a huge loss.
Also, research and studies have shown that 65% of denied claims never even get resubmitted in the first place whereas 58% of all denials are generally from commercial payors; as these carry more complex requirements. In fact, the most common reason for denials is technical / clerical errors; which could be anything like a missing modifier, a wrong code, demographic errors, mismatched procedure, incomplete information etc.
However, though denial Claim is an inescapable problem and will always be present in some percentage yet if carefully taken care of can be reduced.
How Sunknowledge services Inc can help in reducing your denial claims?
With experience billers and certified coders, out team not only ensures a stringent check on every billing and coding process with a 99.9% accuracy rate but also carefully scrutinizes and verifies every documents; reducing the chances of denial. Setting a benchmark, our team ensures continuous follow-up along with timely submission of claims.
In fact, partnering with us for your HME billing services will help you achieve
♦ Reduction in your operational cost by 70%
♦ Claim submission within 48 hours of receipt of billing input
♦ Robust reporting according to the client’s protocol along with no-cost dedicated account managers
♦ Highest Productivity metrics in the market.
So end all your HME billing worries, as we are eager to share our best practices, excellent references across the industry with you. Eliminating all the pain points and improving your cash flow in the best possible manner, we are just a call away!