At ZenMed we have a dedicated team to handle the denials. The team has well trained and experienced staff that handles all specialties. The denials received electronically are addressed within 48 hrs -60 hrs from the time we receive it. If you practice gets a lot of paper EOBís we do the paperwork to convert it to ERAís with all the insurance that has this facility so that the time taken to receive responses are much lesser compared to the paper EOB. It also saves you a lot of time as you need not sit hours every week to scan them to us.
A recent analysis by a team of experts conducted in 50 different offices throughout the country says that
- 21% of the claims submitted to payers are denied and have to be resubmitted or appealed
- 50% of the denied claims have never been refilled
- About 70% of these denied claims have the best chances of getting paid if refilled in time.
This shows that each practice lost almost 7.35% of the total revenue that could have easily been collected every month and yearly you almost loose a monthís income which means you get 11 months revenue working 12 months a year.
With ZenMed our denial team checks on all aspects to see if the claim can be paid without an appeal. If not an appeal is sent in to the insurance company within three days from the time we receive the denial. End of the day we do everything to get you paid for the services you provided.