Boost Revenue With Improved Denials Management

A chief concern of hospital financial executives today is decreased claims reimbursement due to claim denials. 

Their concerns are valid:  the net revenue lost through the processing of claims denials is substantial.

Industry experts estimate that 25-30% of all healthcare claims are denied or rejected, with a typical loss of 2-6% of the facility’s net revenue each year attributed to denials.  For example, a typical 400-bed hospital on average may be losing up to $10,000,000.00 (ten million dollars) or more each year to denials. 

Day by day, year after year, a large amount of net revenue is lost due to denials.

With the right resources, this money can be recouped.

Even a 10% increase in revenue that is currently lost to denials can translate to a net revenue boost of several tens of thousands of dollars per month for a typical 400-bed hospital. 10% is a very conservative number; the average increase realized through the Denials Management services provided by Healthcare Reports exceeds 40%.

A proven formula for achieving this level of recapture is the employment of a sophisticated document imaging system, carefully designed processes, trained and experienced staff, exceptional quality assurance resources, and specialized denials reporting and workflow management tools.  

Healthcare Reports provides specialized staff and technology to meet those requirements. We make it cost-effective for the hospital business office to use denials identification, analysis, and tracking to increase income, reduce age days, and reduce denials at the source.