A study of the scrubs we did over the last six months reveals that on average each scrub saves between $3 and $5. Yeah, that blew our minds, too.
How did we arrive at that conclusion? Glad you asked:
We started with the industry's generally accepted figure that on average, fixing a denial costs $45. That includes the time to find the documentation (the patient's chart, the superbill, etc.), the time on the phone with the insurance company, and, of course, entering the corrected information or writing an appeal. You get the picture.
Then we looked at how many claims the scrubber identified as having serious enough problems to have resulted in a denial (things like invalid procedure codes, NCCI edits that identified unbundling errors).
Many claims were scrubbed multiple times, once after each correction. We counted multiple scrubs of the same claim only once.
We multiplied the number of claims with serious errors by $45 and divided by the total number of claims scrubbed.
Even we were unprepared for the result.