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Blog on Medical Billing, Billing Outsourcing and Healthcare Billing

Posted on March 25, 2020May 1, 2020 by Dean Smith

How Account Receivable Management Helps to Get Paid?

How Account Receivable Management Helps to Get Paid?

Accounts receivable management is one of the biggest challenges in the healthcare industry. Improving and optimizing accounts receivable processes provides many benefits to every practice. Streamlined accounts receivable processes make a positive impact on revenue cycle operations. Here we discuss how Account receivable management helps you to get paid.

Account Receivable Management for Fast Claim Reimbursement

For faster claim reimbursement, account receivable management includes the following processes such as

  • Account Receivable Follow up/ Insurance Receivable follow up
  • Denial management
  • Patient follow up
  • Reports

Account Receivable Follow up / Insurance Receivable follow up

In AR follows up, initially, the team checks the provider’s policy to find claims that need to be adjusted off. After that, the team ensures which claims are collectible and uncollectible. Then the claims are submitted/resubmitted to the insurance payer. Submitted claims are then monitored across 30 days bucket by AR follow up team. If the claim is an underpayment, then the team has to take all necessary actions with the insurance company to recover payment. AR follows up team is responsible to maximize the practice revenue.

Denial Management

Denial Management team finds denied claims by making calls instead of waiting for the denial status code report. They also check the medical coding to identify claims rejection reasons. Based on the denial reasons, corrected claims are resubmitted without any delay. AR team follows-up the claims until it gets paid.

Patient Follow UP

The patient follows up is carried to collect the missing demographic and insurance information and to discuss their outstanding collectibles. AR follow up team always tracks the patient bills and follows up with each patient until payment is received.

Reports

Account Receivable Management team generates the following report.

  • Accounts Receivable Aging report
  • Key Performance Indicators report
  • Top Carrier/Insurance Analysis report

These reports provide a complete picture of the practice’s financial health, complete claim collection cycles, and information about the accounts receivable settlement, etc.

Why choose e-care?

e-care is an exceptional Account Receivable Management company. We provide reliable Account Receivable Management, medical billing and coding services for Medical billing companies, practices and healthcare facilities, etc. We also provide charge entry services, payment posting services, revenue cycle management services, etc. By outsourcing your medical billing with us, you will get the following benefits.

  • Improves cash flow
  • Minimize medical billing and coding errors
  • Processes medical claims faster
  • Improves Collection rates
  • Saves  operational cost
  • Improves your business rating etc.

Want to know more about our services and the benefits of medical billing outsourcing? Log on to our website: www.ecareindia.com

CategoriesAccount receivables, Healthcare Revenue Cycle Management, Medical Billing and Coding TagsAccounts Receivable Management, Accounts Receivable Management Solutions, Medical Billing And Coding Services, Medical billing outsourcing, Medical Coding Companies, Medical Coding Services, Revenue Cycle Management Solutions

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