ACCOUNT RECEIVABLE
1. Timely and Accurate Payment Posting
Our team ensures that all payments from insurance providers and patients are posted accurately to your accounts. Accurate payment posting is the first step in efficient accounts receivable management, as it helps identify any discrepancies or shortfalls early in the process.
Insurance and Patient Payment Posting
We post payments from insurers and patients in real-time, reflecting each transaction accurately to maintain up-to-date accounts.
Adjustment and Write-Off Management
Our team manages adjustments and write-offs appropriately, ensuring accounts are accurately balanced and compliant with financial policies.
2. Proactive Follow-Up on Outstanding Claims
Regular follow-up on unpaid claims is critical to minimize AR days and ensure timely reimbursement. Our team follows up on all outstanding claims, addressing any issues with insurers or patients to expedite payments.
Insurance Claim Follow-Up
We track and follow up on all outstanding claims, identifying and resolving any delays, such as missing documentation or eligibility issues.
Patient Payment Reminders
Our team provides polite and professional reminders to patients with outstanding balances, helping practices maintain good relationships while improving cash flow.
3. Denial Management and Appeals
Denied claims can significantly impact accounts receivable. We handle denial management by identifying the causes of denials, correcting errors, and resubmitting claims as needed, helping reduce the time claims remain unpaid.
Claim Denial Analysis and Resolution
We analyze denied claims to identify trends and root causes, implementing corrective actions to prevent similar issues in the future.
Appeals and Resubmission
Our team prepares and submits appeals when appropriate, ensuring every opportunity for reimbursement is pursued, maximizing revenue collection.
4. Monthly AR Aging Reports and Analysis
We provide detailed AR aging reports that give a clear picture of your practice’s financial standing. These reports break down outstanding balances by age, allowing you to see where your revenue is being held up and take informed actions to improve cash flow.
Customized Aging Reports
Our reports categorize accounts receivable by age (e.g., 30, 60, 90+ days), helping you understand where payments are delayed and identifying focus areas for collections.
Monthly and Quarterly Performance Reviews
We provide analysis on collection rates, average AR days, and other performance metrics, offering insights into financial performance and areas for improvement.
5. Patient Statement Generation and Collections Support
Managing patient collections professionally and effectively is essential to keeping accounts receivable low. We generate clear, easy-to-understand patient statements and provide collections support, ensuring patients are informed and payments are received promptly.
Customized Patient Statements
We generate itemized statements that help patients understand their balances, making it easier for them to fulfill payment responsibilities.
Patient Collections Assistance
Our team handles patient collections with a compassionate approach, offering assistance and payment options to encourage timely payment while maintaining patient satisfaction.
