Reduce denial rates and prevent future denials to mitigate lost revenue and retain future revenues
Medical billing denials negatively affect revenue, cash flow and operational efficiency. And it’s not just the cost of the denials themselves that can erode an organizations’ bottom line resulting in permanent loss of revenue. The opportunity cost of resources that could be focused on other revenue cycle activities is substantial as is the cost in terms of the lost revenues from the denials.
HCS Consulting’s Denial Management solution recovers denial revenues with the objective of denial prevention. Through an analysis of sample claims our consultants will categorize claims into denial reason categories representative of the suspected root causes.
Identify and prioritize claim categories with the highest potential to be appealed or written off.
Conduct a breakdown of claim denials by payer insurance, location and denial category reason.
Provide a baseline analysis to develop a mitigation strategy for process improvement.