Technology: Don’t Be Denied
Use software to reduce claims rejections
By Robert Anthony In October 2006, Schneider-Maurer Foot and Ankle Associates, plagued with minimal cash flow and a claims denial rate exceeding 50 percent, put a machine in charge.
The two physicians at the Aspen, Colo.-based practice knew they were effectively leaving their earnings on the table, and they were tired of it. So, they hired Amy Perchick as their new practice administrator. Perchick quickly noticed that “the doctors weren’t keeping up to date, and the business billing manager wasn’t keeping up to date.” Along with letting said billing manager go, Schneider-Maurer researched and purchased a new, well-suited practice management system.
Today, that table is virtually clear of uncollected money. “Our claims denial rate and our cash flow have improved dramatically,” says Perchick. “It’s the first point in five years where we have cash in the bank, and we’re able to offer a retirement benefit to our employees. That all happened within 10 months.”
As much as Perchick would like to take credit for the practice’s financial turnaround, she attributes much of the glory to the practice management system, which has the ability to edit, or “scrub,” claims before they’re ever submitted for payment. Continued...
