Stop searching payer websites with your staff’s valuable time and let NYX Med’s proprietary BOT based technology automate this process for you. By parsing information from the 837 or the claim submission report into our system, we can scrape payer websites for the status of each claim and then populate the notes section in your Practice Management system. Let NYX Med reduce your costs, optimize your collections and reduce your days in AR.
NYX Med’s rule based engine evaluates existing 835 or remit data received from payers, to formulate denial trends and capture process gaps within an organization’s billing process. By analyzing Claim Adjustment Reason Codes (CARC) and Remittance Advice Remark Codes (RARC), our rule based engine is able to move denied claims into pre-defined work queues with pre-defined workflows. Our proprietary self-learning algorithm then allows us to predict future denials and also provides valuable information to streamline the existing workflows to reduce future denials.
Insurance payment rules are complex and continually-changing, hence lead to underpayments and late payments. Getting paid correctly and on-time is extremely hard. NYX Med’s comprehensive denial management tool provides everything we need to successfully appeal denials and prevent future denials. With over 25% of submitted claims being denied, NYX Med automates the successful appeal and collection of denied claims and has a successful track record of increasing reimbursements.
Have you ever wondered why your AR collections are stagnant up? Why denied claims are followed up regularly? Why thousands of dollars are written-off due to timely filing deadlines? If it’s because of low productivity due to long payer hold-times, NYX Med can help you eliminate this problem. By analyzing payer hold time data and automating the navigation of the IVR function, NYX Med can schedule call-backs with the payer reps to eliminate hold-times altogether. Now we can help you resolve claims faster, save money and increase efficiencies.