“Ignore the claim denials – we are too busy, just write them off.”

Written by Reed Tinsley | February 2, 2016

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

About the Author

Reed Tinsley CPA

This article is written by Reed Tinsley, a Houston, TX-based CPA with over 30 years of experience advising physicians and medical practices across Texas and the United States. Reed holds certifications as a Certified Valuation Analyst (CVA), Certified Healthcare Business Consultant (CHBC), and Certified Financial Planner (CFP), specializing exclusively in the healthcare sector. He is a published author, nationally recognized speaker, and trusted advisor to physicians on accounting & tax, practice management, and financial planning. Schedule a Free Consultation.

Have questions? I’m here to help.

Categories
Accounting and Tax Services Litigation Support Managed Care Consulting Managed Care Contract Negotiations Medical Practice and Healthcare Entity Valuation Medical Practice Assessment Medical Practice Brokerage Medical Practice Embezzlement Consulting Medical Practice Management Medical Practice Merger Advice Medical Strategic Planning Newsletter Personal Financial Planning Oversight Physician Compensation Models Physician Compliance Physician Financial Management Services Retirement Uncategorized