Healthcare organizations average nearly $9,000,000 in denials annually, according to a report published by the IRS. But even recouping that money comes at a cost to organization resources and staffing.
The best denial management solution is to reduce or eliminate denials at their root cause, permanently. The sophistication and accessibility of big data — the process of examining big data to uncover hidden patterns and provide actionable information — is transforming denial management, enabling stakeholders to view their performance on a granular level to resolve the root issues that cause denials before a denial can occur.
Whitepaper: “Big Data Payday for RCM”
The data to pinpoint and solve your revenue cycle problems
HRCS maps the big data available within your hospital systems to trend analyze your organization’s denial patterns. We provide you with a dashboard view of your denial landscape which enables you to quickly pinpoint the source of the denial problems within a particular department, or group of providers, or with a particular insurance carrier so that you may best educate stakeholders and remediate denial root cause.
Our methodology allows organizations to easily monitor very specific financial metrics and uncover areas in need of attention. Some examples are finding issues with credentialing, non-payable coding combinations, or eligibility problems.
HRCS has the expertise and experience to support your organization as you step into the world of big data. You have the information and we have the keys to unlock its power for your collection benefit.