RPM Billing Launches Denials Management Service Line
RPM Billing is excited to introduce our new Denials Management service line! Insurance companies constantly deny claims instead of paying them, which results in delays, re-work, paperwork, and more staff time, instead of timely payments. Many providers don’t have the resources or experience to successfully manage their insurance denials. And yet so much money is left on the table: 15-20% of claims nationwide are denied by insurance carriers, and nearly 65% of those denials are never worked. This means 10-13% of provider revenue is being left on the table due to lack of Denials Management. Our Denials Management service provides an immediate boost of horsepower and expertise to our clients, so that their denials are changed from headaches and losses into successes and payments. By working closely with our clients, working within their systems, and focusing on their denied accounts, we are able to custom design and implement Denials Management services to get each of them paid.
In this process, we simply need the following:
- A signed contract for our services, with HIPPA compliant terms
- Access to billing and EMR systems
- Access to insurance contracts
- Access to correspondence with insurance companies
- Access to EOBs
Using this information, we start our Denials Management service by first quickly analyzing the AR and EOBs so that we can prioritize our work. Doing this type of analysis from any AR system, quickly and accurately, is one of our key areas of expertise. We prioritize our work based on biggest dollar impact, considering such factors as the size and history of the account, timely filing limitations, likelihood of payment, and more. We then immediately work 100% of the accounts, large and small, with equal effort, starting with the accounts where we can make the biggest impact first. Our team has shared expertise and a great track record for getting denials turned around and paid for all provider types, and we jump right in and fight all denial reasons. We stay organized throughout our approach and keep our clients informed of where we stand in our work.
Additionally, as our Denials Management process turns denials into payments, we learn and track what is working. This information is critical to improve the revenue cycle and future billing of our clients. One of the key components of our Denials Management service is providing this feedback to our clients and helping them update and improve their revenue cycle processes so that they are set up for more successful billing in the future. Our experience agrees with a recent article by Healthcare IT News (http://www.healthcareitnews.com/news/rethinking-denials-management), in which it states that 90% of denials are preventable. Our feedback loop to your billing team and revenue cycle helps you prevent future denials, and sets you up for long-term success.
Healthcare providers work hard on behalf of their patients. The patients work hard and pay their health insurance premiums. And so we work hard to make sure the insurance companies pay their share as well. And we are excited to be offering a service that has a nearly infinite ROI for our clients. For only a flat percentage of the collections on the accounts we work, we help our clients substantially improve their aged AR, boost their cash immediately, and our process improvement feedback provides results into the future as well. On top of that, our billing clients receive this Denials Management service and our consulting services for free.
RPM Billing is a medical billing and consulting firm based in Las Vegas and Reno, Nevada, serving doctors, hospitals, and other healthcare providers nationwide. We have an experienced billing team, and we work closely with our clients to make sure 100% of their bills get paid appropriately and timely. Led by Jonathan Marshall, who holds a Healthcare MBA and two decades of experience as CEO, CFO, and COO of hospitals and physician practices, RPM Billing was created as the answer to all of the overpriced and underperforming billing offices out there. We are 100% committed to excellent service, processes, bottom line results, and ethics. To contact us for a free review of your company’s opportunities to improve revenues, please call us at 775-501-9820, email us at firstname.lastname@example.org, or visit us at www.rpmbilling.com. Thank you.