Processing insurance claims is the lifeblood of most providers. Unfortunately, longer processing times and increased denials negatively affect providers like no other time in history. Couple that with personnel shortages and the impact can be substantial.
Frost-Arnett applies cutting-edge technology to develop the most efficient workflows to perform insurance collections. Our proprietary denial management platform utilizes machine learning and AI to efficiently organize and follow up on claims that have the highest probability to be paid. We also identify denial trends, either caused by the provider or occurring at the payer, to mitigate the root cause and increase clean claim rates.
Frost-Arnett can work claims much more efficiently because of our ability to gain real-time claim status, which allows us to identify claims that require manual intervention to be paid. Many claims are in the process of being paid; knowing that prevents attempted follow-up on claims set to be paid. Claims set to be paid are monitored to make sure they are paid in a timely manner. If they are not, they are then flagged for potential follow up with the payer. Additionally, knowing the status of payment increases the provider’s ability to project cash.
Advanced analytics and reporting communicate vital information back to the provider and offer insight to areas needing improvement. Custom reports are available, along with our standard reporting offering which includes:
- Denial Analysis Dashboard
- Root Cause Analysis
- Promise to Pay Report
- Payer Denials Trend Report
- Denials by Physician Report
- Denials by CPT Report
- Denials by Category Report
- Denials by Remark Code Report
- Active Denials Report
- Denials Won/Lost Report