As Healthcare evolves from the fee-for-service model to the value-based model, the Centers for Medicaid and Medicare Services (CMS) has instituted various programs to remedy gaps in care. One of these programs is the Annual Wellness Visit (AWV). Instituted in 2011, the AWV is 100% covered by Medicare, and involves several screenings and tests that culminate in personalized prevention plan.
The average cost to rework a denied claim can run up to $15 per claim that add up daily and add up fast. For many practices, there just isn’t enough time or resources to rework every denial, which can leave a lot of money on the table. An estimated $262 billion, or 9 percent, of the estimated $3 trillion in claims submitted by hospitals last year were initially denied.