Stop the Write Offs: 7 Strategies to Drive Cash Flow
Part 2: Expediting Denial Resolution
Denial management in healthcare continues to be a challenge, in part because the traditional way of working denials is time-consuming, costly, and prone to error. Denials eat up as much as 3-5% of provider revenue, and according to some projections denial rates trend as high as 20%.
In healthcare today, the goal isn’t just making denial management more efficient through the right technology and operational changes. To avoid costly backlogs and lost revenue, providers need to reduce their overall denial rate and zero in on what’s really driving it and where there’s the greatest opportunity to holistically improve claims management and AR.
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