Posted: Jan 13, 2021
What Daily Updates Can Do for Your Medical Billing
How often do you (or your billing team) check on the status of all of your claims? If you’re like most billers then you’re probably checking on them at least weekly.
In fact, if you’re like most billers you probably are checking them right after you post remittance advices.
It’s no doubt this process helps you (or your billers) save time by focusing only on what has not been “Paid.”
On the other hand, this follow-up process may be resulting in your claims (and payments) being delayed beyond the 30-day mark.
Additionally, claims take tremendous time to review and re-work.
- You have to call or check the payer(s) portal
- Take down the denial reason codes
- Locate the claim
- Make the appropriate correction(s) in order for the claim to be re-processed
This full process can take several hours (if not days) to complete.
No one should have to spend this much time researching denials.
And, if your billers have other duties they may have to push back working these denied claims until they have more time to review the denials and take the appropriate next steps.
Wouldn’t it be great if you had a system that did all of the updates for you and provided the “Next Step” at the same time?
I’d like to introduce our solution – REVEX!
REVEX is an interactive (HYPER AUTOMATED) aging report. Our platform allows billers to work their aging reports without the unnecessary steps of checking claim status with the various payers.
How it works.
REVEX is supported by both professional medical billers and HYPER AUTOMATION technology. With this careful blend of human interaction and technology, we are able to provide daily updates on all of your claims.
You may be asking, “What value would daily updates bring to my billing?”
Daily updates will allow you to make well-informed decisions on your claims.
- For example, if you were a biller who waits until you post a remit to begin your denial management process then you might not start correcting claims until about 7-10 days after the claim was originally submitted.
- With the daily updates, you can identify the claims that were immediately denied and correct these at least 3-4 days earlier than before.
This, in turn, allows you to accomplish 2 things:
- Reduce claims from rolling over each month.
- Plan out your follow-ups more effectively.
The claim data is organized using our frameworks so users can easily navigate and address their open claims.
In doing so, your team can now save up to 50% of their work week.
Imagine having 50% of your time freed up to work on more fulfilling duties. Wouldn’t this time be useful for you?
Your next step: Schedule a call with one of our REVEX managers. During the call, we can discuss exactly how REVEX can help you and your organization.
Please feel free to comment your questions!
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Thanks so much for reading!