Denial Code P140 is a frequent and frustrating obstacle for healthcare providers, indicating a mismatch between the patient’s/insured’s health identification number and name as recorded on the claim. This discrepancy prevents the insurance company from verifying the patient’s eligibility and results in claim denials.
The Impact of P140 Denials
P140 denials have a significant negative impact on your practice’s financial health:
- Potential Audits: Frequent P140 denials may trigger audits from payers, potentially resulting in penalties and fines.
- Delayed Payments: Denied claims lead to delayed or withheld payments, impacting your cash flow.
- Reduced Revenue: Denied claims directly translate to lost revenue, eroding your profitability.
- Increased Administrative Burden: Handling denials, gathering supporting documentation, and resubmitting claims consume valuable time and resources.
Understanding the Root Causes of P140 Denials
Several factors can contribute to P140 denials:
- System Integration Issues: Technical glitches or errors in data exchange between your practice’s EHR system and the payer’s systems.
- Data Entry Errors: Typos, transpositions, or incorrect data entry during patient registration or claim submission.
- Changes in Patient Information: Changes in patient names due to marriage, divorce, or legal name changes, or updates to their health insurance information.
- Multiple Health Insurance Plans: Patients with multiple insurance plans may inadvertently provide incorrect or outdated information.
Preventing P140 Denials: A Proactive Approach
To minimize the occurrence of P140 denials:
- Regular Data Audits: Conduct regular audits of patient demographics and insurance information to identify and correct any discrepancies.
- Robust Patient Verification: Implement a thorough patient verification process at check-in, including confirming name, date of birth, and insurance information.
- Data Quality Assurance: Establish robust data entry protocols, including double-checking information and utilizing data validation tools to minimize errors.
- Patient Education: Educate patients on the importance of updating their insurance information with their providers and their insurance companies.
- System Integration: Ensure seamless and accurate data exchange between your EHR system and payer systems.
Resolving P140 Denials Efficiently
When faced with a P140 denial:
- Prompt Data Correction: Quickly verify and correct any inaccuracies in patient information.
- Clear Communication: Contact the insurance payer directly to clarify the issue and obtain any necessary information.
- Resubmit Claims: Resubmit corrected claims promptly to ensure timely reimbursement.
Partner with Claims Med for Revenue Cycle Success
Claims Med offers specialized revenue cycle management solutions to help you:
- Minimize Denial Rates: Identify and address the root causes of denials, including P140.
- Improve Claim Accuracy: Enhance the accuracy of your claims submissions to reduce the likelihood of denials.
- Optimize Revenue Cycle: Streamline your revenue cycle processes and improve cash flow.
- Recover Denied Claims: Effectively appeal denied claims and recover lost revenue.
Don’t let P140 denials impact your practice’s financial health. Contact Claims Med today to schedule a consultation and discover how our expertise can help you optimize your revenue cycle and achieve your financial goals.