Accounts Receivable & Denial Management Services
Maximize Reimbursement and Minimize Collection Costs with Our A/R and Denial Management Solutions.
In healthcare, time is money. An efficient and effective accounts receivable (A/R) and denial management process is essential for a healthcare organization’s profitability. With years of experience, QB can help significantly improve your cash flow, reduce A/R days, and minimize unnecessary write-offs.
Accounts Receivable Management
A/R issues directly affect a provider’s margins, debt, and overall financial health. Effective A/R management is crucial after claims are submitted, ensuring financial stability. It helps identify the adjudication status of claims and provides insight into claim outcomes. Early identification of denials enables quick correction, preventing delays that can impact appeals or adjustments. Our team will review your financials, identify errors, and implement efficient processes to collect payments and clear A/R backlogs in a timely manner.
Our Accounts Receivable Management Services
- Follow-up on outstanding A/R across all payers
- Cleanup of inherited A/R
- Underpayment management
- Denial management
Denial Management
The average denial rate in healthcare ranges from 5% to 10%. Many providers overlook the significant impact denied claims have on revenue. In fact, 90% of denials are preventable, and up to 65% are never resubmitted, even though 63% are recoverable. This represents lost revenue. QB’ comprehensive denial prevention strategy and specialized denials team can help your organization recover more payments by identifying the root causes of denials, reworking them, preparing appeals when necessary, and resubmitting claims.
Our Denial Management Services
- Identifying and addressing the root causes of denials
- Contacting payers and patients for additional information
- Preparing appeals, correcting claim information, and resubmitting claims
Our A/R & Denial Management Approach
With our systematic approach, you can achieve a high resolution rate on high-dollar A/R accounts. Our offerings include:
- In-depth pre-call analysis using EOBs and system notes
- A/R analytics, ad-hoc reports, and denial dashboards
- Prioritizing and allocating work based on claim age, claim value, payer category, etc.
- Core analysis of denial reasons and trends
- A dedicated team that stays on top of the collections process
- Re-engineering solutions for healthy A/R management
Benefits of Our Accounts Receivable & Denial Management Services
Our customizable solutions track critical KPIs, improve clean claim rates, and optimize your A/R and denial management processes. In short, you can rely on us to convert your receivables into revenue.
- Timely reimbursements
- Reduced denial rates
- Shortened A/R days
- Enhanced operational efficiencies
- Sustained cash flow
- Lower cost to collect
- Quick turnaround time
- Access to skilled, experienced resources
- Cost-effective solutions
- Customized reports
- Claims management for all payers
- Updates on industry regulations
- Analytics through U-Track
Cutting-Edge Technology: U-Track
At QB, we continually adopt and implement advanced technologies to enhance client operations. One example is U-Track, a performance monitoring and workflow management system developed in-house by our team.
U-Track Features
- Monitors daily workflow
- Generates customized management reports
- Tracks volume and helps manage priority claims with higher maturity dates
- Tracks daily productivity and turnaround times for each team member
- Provides a real-time dashboard on daily volumes assigned by the client and work completed by the QB team