If you have ever said this or heard someone else in your physician medical practice say this, then you have a huge opportunity for increased cash at the bottom line. Claim denials need to be entered into your practice management system and reported on regularly. Based on those reports, a physician practice must create a denial prevention and denial management program with the following goals:
– Increase the percent of payment from an initial claim by decreasing the claim denial rate
– Reduce the cost of rework by doing it right the first time
–Increase payments from claim appeals by following through on denials within the denial appeal timely filing deadlines
