Billing errors, insurance underpayments, denials and self-pay bad debt account for nearly 13 percent of a hospital’s lost revenue each year. Reduced capital is causing organizations to curtail plans for new facilities, services and technology. Like a severe blood loss, organizations cannot experience a steady loss of cash and market share without also suffering a weakened financial condition. Real banks, like blood banks, must be replenished at regular intervals.

Every provider has the experience of lost revenue and third party payer denials. By outsourcing your Denial Analysis and Management program through Interactive World, you address these issues and can be formulated in a manner that creates a successful revenue recovery system and a substantial return on investment.

Denial analysis relates directly to a resource you probably have in your business office, but may not be familiar with; HIPAA-compliant 835 files. 835s are electronic remittance advice files from Medicare, Medicaid, BC/BS and other payers. These files contain detailed denial reasons for every denied claim, but most facilities are not using them yet.

Agents, with Interactive World partner Medical Billing Service providers, hold substantial experience in the healthcare industry. They carefully analyze the EOBs and claims to take the necessary actions to recover the due amount.