Claims Submission
Claim submission in medical billing is far from upfront. Improper operations can lead to problems, from lower reimbursement rates to complete claim denials and extensive revenue loss. To submit a clean claim, strict adherence to medical billing HIPAA compliance requirements is essential. Once the claims are prepared and submitted, Secure MSO makes sure they are quickly sent to the insurance providers. This accurate attention to compliance not only safeguards patient information but also reduces errors that could lead to claim denials or rejections.
According to standards set by the Centers for Medicare and Medicaid Services (CMS), claim rejections occur when insurance claims fail to meet specific data requirements or essential planning. These rejections can strictly impact the financial health of medical practices, leading to lost revenue. It is estimated that the lack of effective denial management processes can result in a 10% revenue loss for physicians.
Claims Denial Fixing
The 20% to 30% practices have an excess of denials, which must be properly handled if you want to achieve financial success. Secure MSO’s medical billers are professionals in denial management analysis. This helps in initially fixing denial claims and maximizing revenue. However, if you do have old denial claims, let our medical billing and coding staff manage them so they are get paid.
Claim Rejection Fixing
According to the standards established by the Centers for Medicare and Medicaid Services, Claims rejections are insurance claims that fail to meet to specific data requirements or essential formatting. Rejections can significantly impact the financial health of medical practices, leading to lost revenue. In fact, it’s estimated that a lack of denial management processes results in a 10% revenue loss for physicians.
Secure MSO’s medical billers are experts in addressing claim rejections. Their expertise helps prevent rejections and associated revenue losses from occurring initially. For practices dealing with outstanding denials, our medical billers and coders can manage these effectively, ensuring that payments are received.
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