Increasing denial rates have a significant and costly impact on medical practices.
According to industry reports, denied claims can average 5 to 10%+ of revenue, and approximately 65% of denied claims are left unresolved. That is a significant amount of income left unaccounted for.
As part of our complete medical billing service or as a stand-alone service, Codex medical billing identifies and corrects the root cause of denials to improve your clean claim rate and minimize future denials.
Our team of professionals works with you to streamline workflows to resubmit denied claims faster and improve cash flow.
Our Denial Management service includes:
- Identifying key reasons for denial
- Categorizing and monitoring denials
- Payer follow-up on re-submitted denials
- Preparing and submitting appeals (when required)
Our steps to reduce the number of denied claims:
- Determine patient eligibility and verify electronically
- Create a process to sufficiently obtain prior authorization before delivering services
- Certified coders to reduce coding errors
- Determine medical necessity