Does your medical facility want to focus on core medical functions, minimize billing denials, increase efficiency in the billing process, cut down on costs, and ensure timely reimbursement all at the same time?
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Account Receivables and Follow-Up
Outstanding claims and delayed collections place added administrative strain on a hospital or physician’s practice. On one hand, insurance companies often deny claims or refuse to pay them. On the other hand, federal regulations have become increasingly more stringent in the USA. This increases the pressure on the staff at your healthcare practice to follow up on denied or appealed claims.
How to avoid payment delays for healthcare claims?
iKogitate helps you avoid payment delays from Medicare as well as from other third-party insurance payers by following these steps:
1. We review all claims before submission
This cuts down significantly on the error rate. We spend time on reviews at the front end, rather than spend a longer time later to deal with each denial.
2. We maintain a billing and coding claims review log
We track the trends for each healthcare provider, based on the remittance advice from Medicare as well as the EOBs (Explanations of Benefits) from all third-party payers. We monitor and evaluate these trends to find ways to fix the problems causing the denials and rejections for your practice.
3. We do a monthly billing review
All the staff involved in the accounts receivable function, i.e: those who perform tasks such as data entry, coding and documentation, billing and payment posting, analyzing denials and down coding get together once a month to review:
All recent insurance carrier newsletters and notices of any billing or coding changes
Current practice issues that are relevant to the billing function, and
An analysis of the trends noted from the “claims review log,” including how these trends are being handled and the effect on the accounts receivable.