Account Receivable Services
Delayed payments and unsettled claims are big headaches that need special attention due to the workload they put extra burden on healthcare providers’ revenue.
New and evolving insurance companies plans, co-insurance agreements, patient co-pays, and the increase in patients with a high deductible health plan has exceedingly complicated the nature of AR. It demands the healthcare provider to renovate and re-strategize their revenue cycle management. The process is now complicated and requiring the skill of specialists and trained professionals who have diligence, analytical skills and patience to collect payments and reduce AR backlogs.
Unfortunately, most medical practices are not collecting everything they have billed. Only 70% of claims are paid the first time they are submitted, other 30% of claims are denied, lost or ignored. And of those claims, 60% of them are never resubmitted to payers. Also, when services are paid, they aren’t necessarily being paid in full according to their contracts.
Our A/R Follow Up services are designed to collect more money for Your Practice. We start AR follow up process after claims are created and sent to the insurance company.
For an organization to meet its goals in terms of cash flow, it needs to have effective Accounts Accounts Receivables process ensures that companies can get back their payments in a shorter duration of time.
Account receiveable management include
- Analyze your current AR processes to determine areas of improvement from our experienced team.
- Experienced AR calling team.
- Analysis of insurance reports and Follow up on pending claims
- Tracking and work analytically towards the reason of denial claims and action is taken wherever additional documentation is required.
- Track down outstanding receivable balances and information is compiled and sent to the client.
- Our team handles posting of all payment checks coming from insurance companies and results in the clients getting paid more and much faster.
- Will save your time to focus on revenue cycle management and monthly reporting with Statistics.
