BOOST YOUR CASH FLOW WITH

Accounts Receivable Follow-Up Services.

Outsourcing account receivable follow-up services to Medical Business Advocates is a smart move for companies looking to save money and reduce employee workload. We specialize in improving medical billing and coding companies’ accounts receivable procedures, resulting in increased revenue. Our diligent follow-up on outstanding claims dramatically minimizes the entire process’s time, streamlining efficiency and maximizing revenue collection for our clients. Trust us to improve your accounts receivable procedures and increase your revenue today.

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Healthcare providers face pressure and challenges like long receivable cycles, causing delayed revenue, exhausted billing teams, and unstable cash flow. Outsourcing account receivable follow-up services to experienced providers, like Medical Business Advocates, can reduce costs and improve revenue by streamlining the AR process and following up on outstanding claims. Our team of skilled professionals specializes in managing the A/R process and follow-up on outstanding claims. We work diligently to ensure our clients’ medical billing processes are as efficient and effective as possible. By partnering with us, healthcare providers can rest assured that their A/R processes are in good hands.

Maintaining a positive cash flow is essential for the financial stability of any healthcare provider. It is crucial to have a steady flow of revenue to cover expenses associated with providing patient care services. Therefore, performing A/R follow-up is critical to ensure the sustainability of the healthcare provider’s financial health.

Every healthcare facility, including hospitals, physicians’ offices, surgical centers, nursing homes, and outpatient clinics, must try to collect past-due payments. By consistently following up on insurance claims, the chances of healthcare providers receiving timely payments are higher.

Efficient management of accounts receivable aims to minimize or eliminate the occurrence of overdue accounts. This involves monitoring unpaid invoices, evaluating the necessary steps to collect outstanding balances, and establishing protocols for prompt payment. Timely execution of these tasks is crucial for effective A/R management.

One of the primary causes of payment delays is the non-receipt of the claim, which may occur if a paper claim gets misplaced. To prevent this issue, electronic submission of claims is advisable. If the A/R team identifies that a claim has yet to be received, they can promptly initiate a new payment request, following up with the payer.

If a claim is denied for procedural reasons, submitting a new request with the necessary corrections can resolve the issue. The A/R team can ensure that all claims are thoroughly followed up by proactively contacting insurance companies to identify the reasons for the denial. This essential function makes the A/R Follow-up team incredibly valuable.

When claims are on hold due to the requirement for additional information, the A/R team can notify the concerned party and take appropriate measures to facilitate a speedy resolution of the matter.

Phase-l

INITIAL EVALUATION

In this stage, the A/R Aging Report’s claims are identified and analyzed, and the provider’s adjustment policy is reviewed to determine which claims require adjustment. Upon analyzing the timely filing limits, further claims may also be discovered.

Phase-ll

IDENTIFYING ISSUES

In the initial stage, skilled medical accounts receivable analysts detect a range of problems concerning claims that are either labeled as uncollectible or have been underpaid by insurance carriers in violation of provider contracts. The team verifies the timeframes for filing and appealing claims with the primary carriers to ensure accurate and timely processing. It confirms the appropriate address for submitting the claims to the designated processing unit. Additionally, the team ensures that claims meeting the “clean claims” criteria are reimbursed following the agreed-upon fee schedule.

Phase-lll

MAXIMUM COLLECTIONS

After conducting a thorough analysis and reviewing the team’s findings, claims that fall within the carrier’s filing limit is resubmitted only after ensuring that all necessary billing information, such as the claims processing address and medical billing rules, are accurate. Claims that exceed the carrier’s filing limit or appear to have been underpaid are appealed with relevant supporting documentation. The appeal procedures vary depending on the carrier, plan, and state, and our team applies the appropriate procedures to the claims being appealed. Whenever possible, we transmit the claims electronically directly to the carriers. In contrast, we send the claims through clearing houses for other carriers and aggressively follow up with the carrier for confirmation. Once payment details are posted to outstanding claims, we generate patient bills by the client guidelines and follow up with patients for payment.

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