Money waiting to be collected is revenue loss!
Our billers believe that accuracy of the claim and the time spent on retrieving the payment are key points in optimized revenue collections. Our aim is to improve the client’s cash flow by reducing days in accounts receivable and improving profitability, by increasing collections ratio.
Our billers identify category/payer combinations and work on resolving the mix that results in the best collections. They prioritize the claims by dollar value and date of service. They organize the Account Receivables timeline wise (AR days between 30 to 45 days, 45 days to 60 days and beyond 60 days)and work on critical claims first.
Our billers are well versed in identifying patient accounts that require follow-up and take the necessary action to collect unpaid and partially paid claims.
Billers in our consortium run reports on account 21 days past due and call insurance companies to check claim status, re-file, or gather additional information. They keep the average age of account receivable at 25 days or less.
It has been observed that revenues for most clinics are stuck in this stage where Insurance Follow up is not a priority. Thousands of dollars are waiting to be collected but follow up with long hold periods on the phone with Insurance companies is tedious and must be minimized with efficient maneuvers of IVRs.
Our billers have spent years doing this, some of them have such established relations and a great understanding of claim status that they don’t have to even call the payers to get a resolve on certain claims. Our AR specialists are experts at accessing and analyzing all Online portals of all the major payers, which helps our AR team increase their quality and productivity by leaps and bounds.