Accounts Receivable & Claim Denial Management for Hospitals & Medical Practices
Maximize Medical Reimbursements
Nothing is more critical to revenue cycle profitability than to have highly efficient accounts receivable and claims denial management processes in place. It is these revenue cycle processes that determine the difference between financial stability and merely struggling to make ends meet. Whether you outsource all of your revenue cycle management functions to Precision, or just the critical AR and Denial Management tasks, you can count on Precision to bring you valuable net returns on the resources devoted to this most important aspect of your operation
In a nutshell, outsourcing your AR and Denial Management functions will net you greater income - minimizing lost reimbursements by maximizing your effectiveness at collecting unpaid claims. It's the right value equation to get you the highest possible return on investment - it's a service that more than pays for itself.
- AR Management: Precision takes care of all the critical functions involved in AR management including filing of appeals, assessing insurance low pays, updating insurance contracts, managing unapplied balances, managing refunds, and processing patient statements and delinquency letters.
- Denial Management: Minimize lost reimbursements and denials with highly efficient systems and services designed to meet your needs. Maximize your effectiveness at collecting unpaid claims. Precision expertly tracks and manages timely follow up on all unpaid claims, ensuring that no time is lost on pursuing every reimbursement possibility.
- The Right Value Equation: AR & Denial Management is extremely time-consuming and most practices (and billing companies) do not devote sufficient resources to adequately pursue maximum reimbursement. Precision's services are highly functionalized and supported by software tools that typically produce a significant net gain in reimbursement for each client practice, making the decision to outsource this function a clearly positive value equation.
- Workflow and Reporting: Precision dedicates specific staff, well trained and experienced in denial management, to undertake this very important work. The software tools used by Precision's staff allow for well managed and timely follow-up on all unpaid claims. These same workflow tools allow for extremely detailed and useful reporting, making work done on denied claims very visible and make accountable all the resources devoted to this task.
- 24/7 Help Desk: Precision's team of experts is always available to offer immediate support to you and your staff no matter what the issue or problem may be.
"Our 8-provider pediatric practice is extremely busy and must be well organized in order to function at its best. Precision has been providing medical billing and practice management software and tech support to our practice from the very beginning and has greatly supported the growth of our practice over time. The monthly meetings they have with the doctors are extremely helpful in identifying opportunities for improvement and keeping us well-informed about issues affecting the business side of our practice. I would very much recommend Precision to other primary care physicians."