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 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.