Automating Your Way to Denial Prevention and Denial Management in Healthcare
A robust denial management strategy is essential in improving the efficiencies of your revcycle. Understandable, healthcare organizations are taking stringent measures like reducing operational costs to mitigate the financial impact of the public health emergency.
A robust denial management strategy is essential in improving the efficiencies of your revcycle. Understandable, healthcare organizations are taking stringent measures like reducing operational costs to mitigate the financial impact of the public health emergency. However, driving down costs may hurt organizational efficiencies in the long run.
A comprehensive approach to claims management involves a dedicated team, efficient processes, and automation of several workflows to prevent denials from the ground up. Setting your sights on long-term goals ensures that your revenue recovery process can bring sustainable changes that optimize your revenue cycle process, enabling you to lead the way through the crisis time.
Claim denials have hit an all-time high! And this trend is only getting worse. There has been a global surge in denial rates over the past year.
The sudden spike in denials has put Hospitals and Medical Practices in the danger zone, creating enormous pressure on especially independent Practices. This financial strain is pushing them to seek out for nimble solutions to reduce and prevent denials. However, the good news is that 90% of claim denials are preventable! Achieving sustainable financial results requires a strategic blend of the root-cause analysis and automation of several processes that make denial management process a breeze!
24 hours is all it takes to
Many healthcare organizations rely on manual methodologies to manage and prevent denials. However, the partial automation of processes plays a significant role in mitigating costs and improving operational efficiencies. An average person spends about 18 minutes to sift through medical records to find the exact information needed, while it takes less than two seconds through automated solutions. Analytics and AI-powered solutions relieve your staff from timeintensive administrative tasks, helping them better focus on high-risk accounts and other highpriority activities.
Automation can transform your denial management process in significant ways.
A well-organized denial management team establishes a strategic workflow by integrating analytics and automation solutions to prevent denials.
To learn more about how denial automation can help your healthcare organization accelerate the revenue cycle performance,
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From our humble beginnings as a healthcare start-up—to becoming a full-blown healthcare-exclusive digital transformation provider, our journey has been quite a remarkable one. Today, SolvEdge is a leading-edge Healthcare services and solutions provider—trusted by 450+ Hospitals, 3500+ Physicians and millions of patients across the globe.