Becker's Healthcare March 6, 2023
Denial rates serve as a barometer for the financial well-being of healthcare organizations. An increase in denials can have wide-ranging negative implications for an organization — impacting everything from accounts receivable to the patient experience.
By preventing denials upfront, providers can realize revenue faster, boost staff efficiency and satisfaction, and reduce patient anxiety related to the healthcare financial experience.
Here are three best practices that can help providers receive reimbursement after an initial claim:
- Focus on what matters most: Categorize and prioritize denials accurately
Analytics, reporting, and data are critical tools for gaining better visibility into denials. Claim adjustment reason codes (CARCs), which appear on electronic remittance advice documents and patient EOBs, convey detailed information about...
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