Uploaded on Oct 15, 2020
If you really want your practice to grow and make profit, then there are two important areas you need to work on- A/R and denial management. Without an effective strategy for denial and accounts receivable management, you will be losing a lot of revenue. • According to a study by a 2014 Advisory Board, around 90% of claim denials are preventable. It is very important that you are watching out for A/R aging because delayed collections and aging bills are extremely difficult to get reimbursed. Your staff will have to spend a lot of time and money for each follow-up round which means increased operational burden and high resource cost. If not attended to, there will be a pile of unpaid bills at the end of a fiscal year and you will suffer huge losses.
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