Know the Purpose of Denial Management System

Posted by Deepak Sanghi on August 4th, 2017

Denial management is an often overlooked but it is extremely important part of your financial and billing department. Your denial management system takes care of rejected and unattended insurance claims that are costing your business thousands—even millions a year. Are you committed to improving collections and profitability? Then it’s time to take a look at how many insurance claims submitted are rejected, and how many of them are left to gather dust over the years. The numbers may surprise you. According to the AARP or the American Association of Retired Persons, some 200 million insurance are rejected every year. By incorporating a denial management system, you ensure that those claims are taken care of and that your business is not losing money because of denied claims.

Many billing companies and physician groups forego implementing a denial management system because of the costs and inconvenience of hiring dozens of experts to take care of this task. But there is a solution: Hire an offshore medical billing company to take care of denial management for you. Many of the most successful healthcare providers outsource denial management to an expert firm outside of the country, particularly in India. (One of the best medical billing companies in India has over 16 years of experience. They are ISO-certified and are a certified member of the HBMA or the Healthcare Business Management Association. They take in clients of various sizes, from large hospitals to individual healthcare practitioners. The time difference between United States and India also helps, as companies in India have a one-day lead when processing claims.)

The major problems with denied claims are coding mistakes and lack of follow up. These issues will disappear when you partner with a dedicated offshore Medical billing company whose primary scope of work includes denial management and collection. The best billing partner corrects any weaknesses in the coding process to ensure that more claims are accepted on first submission. In the event of a denied claim, they perform thorough AR follow up to ensure that the case is resubmitted and it is paid. They also handle denied claims that have been forgotten.

Is your business losing a huge amount of reimbursement because of underpaid, delayed, or unpaid insurance claims? By hiring an offshore company, your accounts receivables cycle is shortened and your cash flow is accelerated.

About E-Care India:

E-care India is one of the pioneering offshore Medical billing companies based in India that promises to avoid the risks involved with missed Charges. With 17 years of experience in the industry, e-care’s 3 delivery centers have been providing end-to-end medical billing services seamlessly to its clients. To know more about e-care and its services, log on to www.ecareindia.com or call at 813-666-0028.