It has been discovered that most healthcare institutions lose 10-12 percent of their total income as a result of payment denials! In the healthcare industry, the significance of denial management cannot be overstated, as poor denial management will results in significant losses for healthcare providers. How a healthcare institution handles denials has a significant impact on its financial security. Handling claim denials efficiently will improve the organization's profit and collection levels while increasing customer satisfaction. But, what should be done to improve denial management? Here are a few things to keep in mind when dealing with healthcare claim denials.

Miraicure's approach towards denied claims:

  • Determining the root cause of the denial and preparing a relevant report for the same.
  • Identify the most common denials and trends for your practice.
  • Resubmission of claims which were denied incorrectly with proper proofs and documentation.
  • Submitting appeals on claims with proper justification.
  • To eliminate needless follow-up, take a concentrated approach to account settlement and selections.
  • Timely follow up on such claims to avoid any further delay.

Miraicure Advantage:

  • Decrease in denial rates.
  • Increased recovery rate by up to 60 %.
  • Stabilised cash flow.
  • Reduced turn around time for AR
  • Increase in profits.