It is extremely important for physicians and healthcare firms to get their reimbursements on time to manage their revenue cycle. Therefore, denial of medical insurance claims is one of the biggest concerns for any healthcare organization or a physician. According to recent studies, it is estimated that around 8-13% of the insurance claims are denied by the insurance companies often due to missing or incorrect data!
Organizations can hire service providers who can conduct detailed denial analysis to identify ambiguous data and minimize denials. Outsourcing denial analysis in medical billing to an experienced service provider like Flatworld Solutions can help businesses successfully avail insurance claims and receive timely payments. We have a team of denial analysts who understand the challenges associated with denial management in healthcare and help businesses reap the benefits of denial analysis.
Our Services - Denial Analysis & Management
We, at Flatworld Solutions, understand the criticality of timely resolution of medical billing and coding, therefore we assure quick turnaround time in our services. Our analytics team accurately identifies the source and reason for claims denial, reduces the denial rate, and helps businesses improve their revenue cycle. Some of the key services we offer include -
Identifying the Reason for Denial
Our team is trained to study the denials closely and find the exact reasons for medical insurance claim denial by the insurance company. We collate all the cases and analyze the data closely to come up with suitable solutions.
Denial Pattern Recognition
We have a well-experienced team of denial analysts trained to identify the root cause of expensive denials and detect the trends and patterns of such denials. This helps healthcare organizations or the physicians to rectify the problems in their process and ensure that such instances do not occur in the future.
Provide Feedback to Improve Process Efficiency
After our team of medical analysts evaluate the data and recognize the patterns in the denials, we provide a detailed report with our feedback. This feedback includes results from root cause analysis and financial impact analysis of the denials, which helps in improving the efficiency of the entire process.
Correction and Resubmission of Denied Claims
We identify the reason for the denial of the medical claims by the insurance company, make necessary corrections to the data, and then resubmit the claim. In some complex cases, we may have to attach additional documents, or seek additional clarification or information from the client and then resend the claim to the insurance company.
Benefits of Choosing Our Denial Management Services
Having served global clients for over a decade now, we have the required expertise and experience to handle any kind of denial management requests. Some of the benefits you can avail by outsourcing your denial analysis requirements to us include -
Flatworld Solutions is a leading medical billing and coding service providing company, offering reliable services to global clients for over 12 years now. Our services are unparalleled in terms of quality, accuracy, and cost-effectiveness. We have a team of well-trained and highly experienced medical coders and data entry specialists who can work on the latest medical billing software to deliver the best results, within a quick turnaround time. Besides, all our processes are HIPAA compliant and you can be assured of services that adhere to the industry standards.
Therefore, if you are in search of a reliable, accurate, and cost-effective denial analysis and resolutions services provider, then get in touch with us today.