Decide whether to invest in an automated denial tracking system to keep better tabs on delayed or denied insurance payments.
Q: We are thinking about investing in an automated denial tracking system to keep better tabs on delayed or denied payments. What are the benefits of this software?
A: These systems typically read the denial directly from the insurer's remittance advice messages. These denials are generally pre-grouped to help you focus on working the denials. Because clearinghouses see many more claims than any single physician practice, they tend to catch new denials more quickly. Some denial-tracking services offer more in-depth explanations about what went wrong with a claim, often as an add-on service, for an additional charge per claim.