RelayHealth shares post-ICD-10 denial rate data
According to RelayHealth Financial, a healthcare IT company owned by McKesson, just 1.6 percent of claims processed using its revenue cycle management solutions have been denied since the implementation of ICD-10.
RelayHealth shared denial rate data for more than 262 million claims from between Oct. 1, 2015, and Feb. 15, 2016. The company says the denial rate has not changed since November 2015.
“The good news is that we’re not seeing a marked increase in claim denial rates, and there is heightened interest in denial management and prevention,” Marcy Tatsch, RelayHealth Financial vice president and general manager, Reimbursement Solutions, said in a prepared statement. “The bad news is that as many as 1 in 5 claims is still denied or delayed–which can mean a dip of as much as 3 percent in a hospital or health system’s revenue stream. While it’s important to keep monitoring those KPIs that are monitored on RelayHealth Financial’s Denials Dashboard, healthcare providers should now ramp up their broader denial prevention and management efforts.”
RelayHealth also promoted its new online resource, ReduceMyDenials.com, which allows users to research the subject of denial prevention.
RelayHealth Financial and McKesson can presently be found at booth #4002 at the 2016 HIMSS Annual Conference & Exhibition.
Michael has more than 18 years of experience as a professional writer and editor. He has written at length about cardiology, radiology, artificial intelligence and other key healthcare topics.