TruBridge Introduces Denial Management Program
June 21 2018 - 11:00AM
Business Wire
TruBridge LLC, a subsidiary of CPSI (NASDAQ:CPSI), a community
healthcare solutions company, today announced the introduction of
its Denial Management Program.
With hospitals losing an estimated $262 billion a year from
insurance denials, denial management has never been more important.
TruBridge, a provider of revenue cycle management solutions to more
than 1,000 healthcare organizations, is now offering a Denial
Management Program, a three-step process designed to assist
organizations with taking control of their denied claims. TruBridge
utilizes data analytics, best-practice tools and consulting, and
on-going performance management to maximize the payments received
for the care provided. This program evaluates the entire claims
process from start to finish, allowing TruBridge to uncover the
root cause of denials.
The need for successful denial management has been an area of
focus for TruBridge, as a typical hospital puts about 10% of its
revenue at risk due to denied claims. This can be seen in the
May/June 2018 issue of HealthLeaders Magazine, where Chris Fowler,
president of TruBridge, discussed claim denials and avoiding the
avoidable.
In the article, Fowler notes critical claim denial trends and
the importance of implementing corrective actions. Statistics show
that 90% of claim denials are preventable and avoidable, and of
those denied claims, approximately 65% are never worked, which
translates into a lot of needlessly lost revenue for many
hospitals.
Fowler said, “By implementing a comprehensive denial management
strategy, facilities can eliminate the majority of preventable and
avoidable denials. Ultimately, this allows organizations to work a
small number of denials more efficiently and intelligently,
ensuring the best opportunity for payment. Hospital executives
should have zero tolerance for preventable and avoidable claim
denials. The TruBridge Denial Management Program not only helps
identify and minimize avoidable claim denials, it helps
organizations maximize the overturn percentage of the remaining
denials.”
TruBridge will be attending HFMA’s 2018 Annual Conference, so
interested facilities are invited to visit Booth #234 to learn more
about the TruBridge Denial Management Program.
About TruBridge
TruBridge, a member of the CPSI family of companies, provides
business, consulting, and managed IT services along with an end to
end Revenue Cycle Management (RCM) solution. With an arsenal of RCM
offerings ranging from an HFMA Peer Reviewed® product to complete
outsourcing, TruBridge helps hospitals, physician clinics, and
skilled nursing organizations become more efficient at serving
their communities.
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version on businesswire.com: https://www.businesswire.com/news/home/20180621005389/en/
CPSITracey Schroeder, 612-787-3125Chief Marketing
Officertracey.schroeder@cpsi.com
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