OptimizeAR Denial Recovery Services
Healthcare providers continue to face significant revenue losses due to denied claims. A number of factors contribute to denials, and hospitals typically only recover between 35-50 percent of denied claims. Many are never resubmitted or appealed for various reasons, including:
- the inability to identify and track the denials
- lack of skilled follow-up and appeals staff
- inefficient denial management technology solutions
CareMedic recognizes the industry’s need to implement effective methods of dealing with existing denials and preventing them in the future. With over a decade of expertise in denial management solutions, we’ve achieved a
proven 65–75 percent recovery rate for denied claims for our customers. To make a positive, lasting change in your denial recovery rate, we combined our most advanced technology (the electronic Financial Record™ (eFR®) system) with our expertise and certified services team to offer a complete solution designed to meet your specific needs.
CareMedic’s Denial Recovery Services help you:
- Analyze your existing situation
- Identify the root causes of your denials
- Make procedural changes to prevent future denials
- Capture, re-bill and appeal denied claims
- Recover revenue that may have been written off
In addition, we will leave you with an improved procedural/technology framework for moving forward.
Technology and Resources With Denial Recovery Services, we provide a comprehensive denial analysis to quantify the extent of your denials and their root causes, as well as a written recommendation and a cash improvement opportunity projection.
Next, we will set up a framework with which to begin effectively identifying, tracking, managing and recovering your denied claims. Your organization will benefit from the eFR’s automated workflow, claims tracking and performance management dashboard functionality. At the same time, we can provide interim outsourced staff to accelerate recovery of your existing or backlogged denials, if needed.
With this technology and services combination, we provide a short- or long-term solution based on your individual needs. In addition, we provide procedural best practices training for your staff when we transition these processes back to your internal resources for long-term, sustained results.
Benefits
- Proven recovery rate of 65-75 percent of denials versus typical 35-50 percent recovery
- Interim outsourced solution for quick cash recovery
- Performance-based fee arrangement ensures success and ROI
- Superior technology (eFR)
- Performance Management Dashboard
- Frees up hospital's existing staff to focus on other accounts receivable
- Allows them to collect more money
- Reduces or eliminates A/R outsourcing to other agencies
With CareMedic’s denial management focus and expertise, your organization can substantially increase denial recovery, resulting in a significant impact on your bottom line. We focus on helping you get paid—it’s what we do, so we do it well. Since your cost is based on our performance, you have a guarantee that we’re going to be as effective as possible, so it’s a win-win situation for everyone.
For more information,
contact us via the Web or call us at 1-800-508-8494.
