aequum LLC’s Post

Did you know that private payers initially deny 15% of medical claims? That’s a lot of claims to fight, and according to a national survey by Premier, Inc., hospitals and healthcare systems are spending an average of $43.84 per claim just to dispute these denials. Now, this may not sound like much, but think about this—health insurers review around 3 billion medical claims every year. That adds up to nearly $20 billion spent just on denial reviews. But don't worry—there’s a simple solution: education and training! Keeping your staff trained on the most common denials can help prevent them from even happening in the first place. And today, we’re going to focus on one of the most common denials: denial code OA 23. #DenialManagement #RevenueCycle

Thank you to all who attended our Year in Review Webinar! Ciara F. Koba and Michelle Allan appreciate the opportunity to provide insights on all things medicare secondary payer. Stay tuned for info regarding upcoming webinars! #AllanKoba #MedicareSecondaryPayer #AllanKobaCompplianceSolutions #Medicare

As healthcare costs continue to rise, claims repricing has emerged as an important strategy for many self-funded plans to better manage their medical plan spend. But what exactly is claims repricing and how does it work? We break down the claims repricing process for you: https://bit.ly/4aZQSmI #RenalogicCares #RepricingClaims

Discover the latest developments in the ongoing litigation surrounding the No Surprises Act. From forum shopping tactics to key court rulings, stay updated on the intricacies shaping healthcare law. Explore the nuances of the cases and their implications for medical providers. For detailed insights, visit our latest blog here: https://lnkd.in/dNMWFvzu and stay informed at knowthenosurprisesact.com. #HealthcareLaw #Litigation #NoSurprisesAct #HealthcarePolicy #LegalUpdates #MedicalBilling #HealthcareReform #LegalChallenges #HealthcareIndustry #HealthcareCompliance #HealthcareRegulations #MedicalLaw #LegalInsights

#Healthinsurance carriers will issue an estimated $1.1 billion in Medical Loss Ratio rebates in 2024. The #ACA mandates that individual and small group plans spend 80% of earned premium on medical claims and care improvement, and 85% in the large group market. Should their spending not reach that threshold, they're required to return the difference to subscribers via these rebates.

A few seconds of downtime can cost organizations millions of dollars. https://lnkd.in/gx_FRVSp For healthcare insurers, these disruptions can lead to postponed medical procedures and delayed treatment approvals—learn how to safeguard your operations, leading to more loyal and potentially healthier customers.

Blog: Reduce Denials Maximize Revenue! 🔹 Medical claim denials are on an upward trend, negatively impacting the bottom line of healthcare providers. Proactive steps to reduce denials are crucial to maximizing revenue by improving your claims management process. 🕸️ Click the link 👇 to read the full blog post. 🔗 https://lnkd.in/eCb5jfvQ

Unveiling Mediclaim Exclusions! 🚫💊Explore the crucial exclusions that may affect coverage under your policy, including pre-existing conditions and cosmetic procedures. Understanding these limitations is key to effective healthcare planning. #MediclaimExclusions #InsuranceInsights #PolicyLeader #KatariaInsuranceBroker 💼🔍

Claim denials are a frustrating reality for healthcare providers. They are time-consuming, costly, and hurt your bottom line. But you do not have to face this alone. Codex Medical's Denial Management Services can turn it around. We help healthcare providers: - Identify root causes of denials - Develop solutions to prevent future losses - Appeal denied claims and negotiate better outcomes - Simplify the denial management process for better efficiency Contact Codex Medical today to see how we can help you recover lost revenue and achieve financial stability. https://lnkd.in/gYsjhst4 #medicalbilling... https://lnkd.in/gVKtHq4a

Engaging with your Field Reimbursement Access Specialist at the beginning of the year can make a big difference in supporting your Patient Assistance Program (PAP) initiatives, Patient Benefit Verification and Prior Authorization. This can help you navigate these important aspects and start your patients on therapy with ease. Don't miss out on this opportunity to enhance patient care! #PatientCare #AccessSpecialist #HealthcareEfficiency