Accounts Receivable Follow-Up Services
The AR (Accounts Receivable) recovery process in medical billing is essential for healthcare providers to maintain smooth operations and ensure timely receipt of owed amounts. Medical billing services and AR follow-ups are interdependent processes that facilitate prompt and efficient reimbursements.
American MedBill Solutions provides comprehensive AR services to support these efforts. Their team of experienced professionals specializes in managing and optimizing the revenue cycle, ensuring that healthcare providers receive accurate and timely payments. With a focus on reducing claim denials and improving collection rates, American MedBill Solution enhances the financial health of medical practices, allowing them to concentrate on delivering quality patient care.
Stages for AR Follow-Up at American MedBill Solutions
The AR (Accounts Receivable) follow-up process in medical billing is a systematic approach comprising three stages:
- Initial Evaluation
The first step of the AR follow-up process involves identifying and analyzing claims listed on the AR aging report. Our billing and AR team reviews the insurance provider’s policy and determines which claims need adjusting-off.
- Analysis and Prioritizing
The second phase in AR follow-up is analysis and prioritizing, following claims identification. This process helps to mark claims deemed uncollectible or those that carriers have not yet paid according to the contracted rates.
- Collection
The final phase for AR follow-up is collections. Once it is confirmed that the claims are within the filing limit of the carrier, our team refiles the claims with the verification of all necessary billing information. This includes the claims processing address and confirmation of other medical billing rules.
American MedBill Solutions provides comprehensive AR services, ensuring that healthcare providers receive the payments they are owed efficiently and effectively.
Our AR Follow-procedure
Payments must not be delayed, denied, or lost if patient care is to be effectively provided and expenses covered. A deep understanding of the billing guidelines and maintenance of a trained billing staff is important in your practice to reap benefits from these high first-pass acceptance rates. The first-pass acceptance rates also translate into shorter billing cycles.
1
Claim Follow-up
Not every claim that is submitted in medical billing reaches its destination—the insurance carrier. This is where electronic filing can help significantly in the reduction of losses, thereby smoothly following through with claims for payment. Quick follow-up must be done to track any delays in the processing of claims. It does not augur well for your practice’s cash flow if one waits for weeks to realize that the insurance firm never received a claim.
2
Managing Denied Claims
Dealing with and managing denied claims requires a practical approach. Instead of passively waiting for paper denials through the mail, for example, the A/R team may call the insurance firm to check the causes of denial. By reacting fast to the reasons for denial, the A/R team could expedite the correction process, as it will be resubmitted by an average of as early as 7 days faster and considerably shorten the payment turnaround time.
3
Recover Overdue Payments
Expert A/R follow-up advocates healthcare providers, ensuring that late payments can be recovered hassle-free. This team keenly reviews the explanation of benefits, resubmits claims with information, secures overdue payments, and ensures a much healthier cash flow for your health practice.
4
Provide Financial Stability
Positive cash flow is what provides the foundation of financial stability in any medical practice. A competent A/R Management department is the protector in making sure that every bill and receivable is collected to accomplish coverage costs and appropriate services for patient care.
Get in Touch with Us
Familiar with all federal and state laws guiding our medical billing company, we are dedicated to ensuring excellent customer relations – our experienced team of billers is always ready to answer any questions or discuss concerns. Call us to schedule an appointment now to learn more about how we can support your needs. We came to help you eliminate the challenges of medical billing and coding so that you can continue doing what you do best: providing care to your patients. Contact us today, and let us explain how we can assist you in achieving growth.