When a provider manually runs a claim status check, it takes, on average, 19 minutes and costs providers $9.37.
In 2020, providers made 238 million claim status inquiries by phone, fax or email. Most payers still limit the number of inquiries allowed per call, which means more calls, more work for staff and more time wasted. And that’s before adding in the time it takes to update claim statuses in practice management or hospital information systems.
New financial performance demands are forcing revenue cycle, financial services and billing professionals to reevaluate their approach to claim monitoring. To unlock the cost savings and smarter workflows they need, it’s critical to deploy tech and tools that can easily automates the process. And not just any tech—you’ll need solutions efficient and flexible enough to meet the unique needs of your organization.
This whitepaper breaks down the most effective strategy for achieving smarter claim monitoring and shows you how to navigate the challenges you’ll face along the way.
In 2020, providers made 238 million claim status inquiries by phone, fax or email. Most payers still limit the number of inquiries allowed per call, which means more calls, more work for staff and more time wasted. And that’s before adding in the time it takes to update claim statuses in practice management or hospital information systems.
New financial performance demands are forcing revenue cycle, financial services and billing professionals to reevaluate their approach to claim monitoring. To unlock the cost savings and smarter workflows they need, it’s critical to deploy tech and tools that can easily automates the process. And not just any tech—you’ll need solutions efficient and flexible enough to meet the unique needs of your organization.
This whitepaper breaks down the most effective strategy for achieving smarter claim monitoring and shows you how to navigate the challenges you’ll face along the way.
The most efficient way to run a claims check is to submit it properly initially. Not only does an improper claim cost revenue, it also adds expense to obtaining proper reimbursement. Proactive management of your billing staff for each payer obviates the chain of events resulting from deficient claims.
Becker's Health Care offers a white paper which outlines the process to insure your staff operates at maximum efficiency. Modern software and A.I. offers automated processes which saves staff time.
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