According to Richa Singh of Collection Rx, 5-10% of healthcare revenue is lost due to lack of time and technology associated with the work involved to follow up on the cost of collections resulting from unprocessed claims, missing documents, and denials. In many instances, providers overlook claims that are not properly processed and, as such, miss out on revenue. More importantly, almost 40% [...]
Making the decision to replace vendors functioning in any part of your revenue cycle is BIG. A lot is riding on uninterrupted operation in this area, particularly when it comes to the operations performed by your EDI clearinghouse vendor – the company responsible for facilitating claim submission and therefore reimbursement.
Quadax is honored to be recognized for a second year in a row as the Category Leader--#1 for Claims Management by KLAS Research. Ultimately this rating was earned because of the interviews KLAS conducted with users of the Quadax Claims Management, Xpeditor.
Many business offices, working toward an optimally efficient, cost-effective claims process, set a Clean Claim Rate (CCR) goal of at least 95%. A high CCR means less time and expense associated with getting accurate charges billed as soon as possible following the discharge of services.
Claim processing rules are the power behind your cash flow. The tool you use for scrubbing and submitting your claims is only as good as the library of claim edits under the hood that will identify errors before you submit – giving you the opportunity to send clean, error-free claims.