Improve Billing, Collections, and Revenue
Billing, Collections, and Revenue
According to the AAPC the average claim error rate is above 40% on a first-time insurance claim. When analyzed, the top 20 billing errors involve minor details: Such as the proper address for the insurance, a patient’s date of birth, or failing to signify male or female. The average denile rate is above 25%and 48% of denied claims are never followed up– leaving the bulk of a practice’s profits left uncolleted. Furthermore up to 25% of a practice’s revnue is now patient pay.
Improving Patient Pay
Real-time Revenue Monitoring
- Patients are checked-in but eligibility is unchecked
- Co-pays / patient pay are uncollected
- Appointments are deleted, canceled, moved, missed, etc.
- An unauthorized visit or procedure is about to happen
- Patients have been seen but remain unbilled
- Balances above your preset threshold are written off
- Timely filing presets are ignored
- Claims or denials are not followed up
- Collections performance is below preset threshold
- We monitor User productivity, and offer User productivity reporting