Managed Care Contract Negotiations
Jan 04

Tracking denial data can help improve your financial performance

Improving your fiscal future is as easy as examining denial data. By placing such information under a microscope, you’ll soon identify the root causes of claims denial. And with a little effort, your facility will develop internal and external solutions for such problems, including ideas to reshape your managed care contracts. This can significantly improve your financial outlook.

To achieve this goal, construct a denial process team, which may consist of a representative from

  • care coordination, to analyze clinical denials
  • admitting, to assess the authorization process
  • patient accounts, to pursue the final outcome
  • medical records, to fulfill documentation needsThe basic tasks of the team are to
  • analyze denial data
  • categorize denial types
  • identify the manner in which each type of denial can be addressed
  • target areas of process that the team can improve to reduce denials
  • use technology whenever possible
  • closely monitor denials
  • improve appeal-writing techniques
About Reed Tinsley, CPA

As a top advisor to physicians, I help increase practice profits by delivering hands-on, expert medical accounting/tax support, practice counsel, and revenue-building strategies. Read more →