Accounts Receivable Management Tips for Healthcare: It’s Time to Standardize Your Metrics for Denial Management

Accounts Receivable Management Tips for Healthcare: It’s Time to Standardize Your Metrics for Denial Management

Claim denial rates are still a major concern for accounts receivable management in 2022. For example, denial rates for marketplace payers have reached rates as high as 80% according to the Kaiser Family Foundation [1]. But this is only the beginning. COVID has put upward pressure on denial rates for a while now. All of this means that revenue cycle leaders should be taking a fresh look at their denial management practices, not only considering accounts receivable management services but also seeing this as an opportunity to investigate new and more effective approaches to denial management.

2023 E/M Code Descriptors & Guidelines Summary Of Revisions

After implementing the 2020 Medicare Physician Fee Schedule Final Rule provision, which included revisions to the Evaluation and Management (E/M) office visit Current Procedural Terminology (CPT) (99201-99215) code descriptors and documentation standards that directly addressed the continuing problem of administrative burden for physicians in nearly every specialty, from across the country, the CPT Editorial Panel approved, for 2023, additional revisions to the rest of the E/M code section. Here’s a summary of revisions:

Reduce Days in A/R

How to Reduce Days in A/R

Days in accounts receivable (A/R) is a critical number for providers to track. As healthcare revenue cycle challenges become more complex, you will need to monitor this KPI to stay competitive, keep up with consumerization trends, and support your overall financial goals. As you make this consideration, you might consider working with some of the top medical billing companies in the USA, but first, we want to help you gain some critical insights.

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