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835 Remittance Payment Analysis: Improve your Revenue Cycle
Are you aggregating payment denial information from your 835 files? If not, do you really know what you are being paid? Are your payments reflecting your contractual payment terms?
In today’s environment of rising costs and declining reimbursement, it is important to have a commanding handle on the dynamics of your payments and denials, and the ability to address critical questions such as: What revenue cycle issues may be impeding accurate payments to your facility? How do you measure and correct breakdowns in the charge capture, coding, and billing processes? Is it time to reevaluate your payor contracts? Diving into the detail of your 835 payment files can help you answer these questions by measuring your current performance, creating a report card of where you’re performing well and where there is opportunity for improvement, and developing a succinct roadmap of where you need to go and what actions need to be taken to achieve the greatest improvement to your bottom line.
By identifying registration errors (front-end) versus errors occurring after registration (back-end), MedCom helps you to make an educated decision on how to proceed with improvement initiatives. RANavigator enhances your ability to evaluate payments based on contract provisions to assess the accuracy of the reimbursement you are receiving from your payors.