Commercial insurance carriers and government payers deny a vast number of claims each year. Even though many of these claims could be approved, practices often write them off as contractual losses because they simply don't have the resources to recover them.
Practice Provider ensures that your practice has the best possible chance of reimbursement by tracking each claim you submit, from the initial filing to the eventual receipt of payment.
Our follow-up services focus on increasing your practice's cash flow by reducing the number of days each account spends in A/R. Our expertly-trained account representatives have extensive experience in the industry, and they know how to generate cash from slow paying or rejected insurance accounts.
Traversing the bureaucratic red tape associated with denials, Practice Provider has an iterative refinement approach to identifying the problem with each claim. Not only will we help you deal with denials that have already occurred, but we will also work with your practice to create and implement strategies that reduce future denials.
"Because each payer has a different set of payment claim submission requirements, the physician who has contracts with multiple payers has a difficult time holding each payer accountable to the varying and oftentimes nontransparent coding rules and payment policies. This results in a greater number of appeals on claims that are processed and paid consistently across payers, these types of inappropriate payments and unnecessary appeals on claims could be eliminated.
This profound imbalance in transparency, consistency and accountability has cost physicians dearly. An estimated 90 percent of claim denials are preventable, and 67 percent of denials are recoverable, according to the Advisory Board Company, a Washington-based research organization. Based on those estimates, physicians collectively lose billions of dollars of revenue to health insurers per year. This does not include the time, effort and expense to review, audit and appeal inappropriately paid claims." - the American Medical Association Practice Management Center
Stop losing money to denials and rejections. Let Practice Provider maximize your revenue through claims management services.