BIS Revenue Reclaimed: 21% Cash Growth
FOCUS AREAS TO COMPLETE CHALLENGE
Prevention Measures
Coding Review and Denial Analysis
Insurance AR Team Progress
CHALLENGE SUMMARY
Reduce denial rates to below 8% and improve overall revenue collections.
RESULTS SUMMARY
Denial rates reduced from 15% in 2023 to consistently below 8% between April and October 2024. Payments increased by 21%, leading to significant revenue growth.
BIS deployed a data-driven approach to understand denial patterns and payment trends:
1. Verification:
Ensured all appointments were thoroughly verified before the service.
2. Referrals for Clinic Visits:
Handled the complete referral process, including PCP identification, request submission, and follow-ups.
3. Authorization for Procedures:
Reviewed payer guidelines to meet medical necessity requirements and coordinated amendments for non-compliant records.
4. Coding Review:
Conducted in-depth reviews of medical records, ensured correct diagnosis codes, and applied appropriate modifiers.
5. Denial Trending:
Added two certified coders to track denial trends, analyze root causes, and implement preventive measures.
6. Insurance AR Team:
Deployed two full-time employees (FTEs) dedicated to reviewing AR from 2023 and 2024 to maximize collections.