Billing And Accounts Receivable Management Services

By Author: Outsource Strategies International
Total Articles: 108
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Billing and accounts receivable (AR) management should be carried out efficiently, since it is an important aspect in the smooth functioning of a healthcare facility. Many healthcare providers find it challenging to optimize the revenue flow of their practices. When balancing patient healthcare and administrative tasks becomes difficult, outsourcing the task to an experienced billing and AR management company is the practical way to improve the cash flow and bottom line.

Medical professionals that rely on medical billing services are relieved of the responsibility of setting up an in-house infrastructure to manage their financials. This saves their valuable time and money. Established accounts receivable management services are well-equipped to help streamline your billing and coding processes. Besides advanced technology and software, they have a team of skilled medical billing and coding specialists that can help you avoid all the issues related to billing and accounts receivable management.

Joining hands with a professional provider of accounts receivable management services guarantees you easy access to a ...
... professional team; prompt and efficient medical billing services; follow-ups without delay and appealing unpaid claims with insurance companies. With quality and comprehensive billing and accounts receivable management services, the service provider reduces the accounts receivable days by submitting error-free medical claims, appropriate analysis of denied claims and regular follow-ups with payers and patients for outstanding claims and dues.

Comprehensive Billing and Accounts Receivable Management Services

Professional medical billing and AR management services include:

• Patient enrollment: All demographic and insurance information is checked to ensure that it is entered in the proper format
• Organizing of patient records
• Recording and registering of patient information
• Insurance eligibility verification: This involves obtaining the patient's insurance details by calling the insurance payer or through online verification. All details are verified: payable benefits, patient details, pre-authorization number, co-pays, co-insurance details, deductibles, patient policy status, effective dates, plan details and much more
• Medical coding
• Charge capture, claims processing and scrubbing, and payment posting
• Insurance follow-up: AR management companies provide follow-up services to ensure timely payment of claims. Follow-up is done to obtain the current status of the claims, status of appeals and reasons for claim denial in case claims have been rejected.
• Denial management: In accounts receivable management services, the service providers find out the reason behind the denials and try to resolve the problem leading to denials to shorten the accounts receivables cycle.
• Appeals for denied claims
• Credit balance audits
• Cleanup of old accounts receivable

Partner with the Right Service Provider

Partnering with a professional billing and accounts receivable management service provider ensures the best results.

About Author
Outsource Strategies International (OSI) simplifies the payment collection effort by providing comprehensive healthcare AR management services. Our medical billing services in this regard include payer follow-up, denials management, receivable analysis, reporting, and practice analysis.

Outsource Strategies International (OSI) provides medical billing & coding, dental billing & coding, insurance & eligibility verifications to medical and dental practices.