NATIONAL OFFICE – BKD CPAs & Advisors launched a new service aimed at helping clients identify and prevent insurance denials. Preventable insurance claim denials can cost an organization 3 percent or more of its net revenue annually. BKD’s Denials Management tool aids organizational efforts to uncover root-cause issues causing denials and to monitor performance trends over time.
The denials management tool is patient accounting system agnostic and provides a consolidated resource for claim denials. The tool provides real-time actionable denial insights for various levels and departments within an organization.
“Targeting prevention of claim denials as opposed to refiling and appealing claims reduces denial rates and costly re-work while improving patient satisfaction,” said Daniel Clark, managing director of BKD’s Health Care Performance Advisory Services. “Now more than ever, health care organizations are under pressure to identify and assess areas where money is being left on the table. With a rapid installation time and low maintenance, this tool is ideal for organizations that need to quickly identify where revenue capture can be found.”
Currently, the tool supports users through a series of easy-to-use, web-based dashboards. A tiered pricing structure based on organization size makes it an attractive option for supporting efforts to prevent insurance denials.
BKD’s team aims to make finding and implementing innovative solutions easy. Learn more here.