Denial Management Can Be Improved With Correct Coding
It has been reported by several medical practice management resources that billing denial rates range from five to ten percent with better performers averaging around four percent.
All practices would agree that additional effort to resolve claims cost money and it has been estimated that the average rework cost for a claim is close to $25.00. While not all denials are directly related to the coding of services, correct coding is the one controllable element that a practice has to reduce denial rates.
Do you know your current denial rates and the breakdown of the reasons for the denial? All denials must be reviewed and analyzed as to the reason why these occur. It is the only way to truly improve. Remember the saying, “what gets measured gets done”; you must actively analyze these denials to uncover the opportunities for improvement.
If your group is experiencing a high level of coding denials, having experienced coders perform the assignment of CPT/ASA/ICD-10 codes may be one way to reduce denial rates and obtain payments in a more efficient and cost effective manner.
Whether experiencing a high level of coding denials or experiencing a delay in submitting claims, ACE is available to assist you with improving your coding practices. Whether you need your coder audited, need education or you just want assistance in having the services coded, ACE has over fifty coding professionals ready to assist you. Our coders are the best in the business and have experience in working in many different systems. We stand ready to help!