MGSI is one of the leading medical billing company offers a full-suite of healthcare denial management services that include AR follow ups, claims status checks, resolution of denied claims, preparing an appeal letters etc. – all done with one goal in mind which is to collect all dollars due you for medical billing services rendered.
It is important to note the terms claim denial and claim rejections are often used interchangeably by office billing personnel as both may be considered part of the denial management processes. Rejected claims will not be processed as they have not been received/accepted by the payor, therefore, these claims do not make it into the adjudication system. This simply means that a rejected claim must be submitted when the errors are corrected. Often times this causes a reduction in cash flow because no one is looking at system rejected reports or they belief they will receive a denial EOB. Is your staff looking and resolving rejected claims sent to the payer via either electronic data interchange (EDI) or paper? A denied claim has been received by the payor and has been adjudicated and payment determination has already been processed. A denied claim has been determined by the insurance company to be unpayable. Denied claims represent unpaid services and lost or delayed revenue to your practice. Does your practice execute a denial management strategy- process?
Due to lack of time and expert knowledge on the healthcare denial management reimbursement domain, many physicians and facilities fail to manage denied claims and resubmit them. Denial Managements requires expert knowledge and timely execution. Therefore, only dedicated and skilled professionals can handle them efficiently, successfully and timely. MGSI deploys a dedicated team of employees who will manage denials promptly and provide efficient denial management services. These experts analyze the possible denial trends and also initiate ‘global action’ that can impact many claims with a simple fix to prevent repetition of the same denials. Our team of healthcare denial management experts; track denials, identify root causes and execute denial management preventions strategies. Additionally, it is important to provide feedback to appropriate internal departments personnel and physicians on denial management trends and findings. Medical practices which lack a focused strategy for denial management are most likely to see unfavorable results, as is often too common, left to sit and eventually written off as uncollectable.
MGSI has established a workflow for hospitals and practice that tracks claims as they enter and leave your system. MGSI does extensive groundwork to correct ambiguous claims and avoid the chances of them getting rejected again. To accomplish this task, they perform a thorough root-cause analysis, decide on the right solution for fixing the particular issue, take the corrective action and submit the claim for payment.
For more information on this service and how it can benefit your practice call toll free at 877-896-6474 or email info@mgsionline.com.
