With extensive patient accounts, insurance issues and the problem of patients who simply won’t or cannot pay for their services, it’s no surprise accounts receivable (A/R) is such a prominent issue in medical billing. Every medical practice and medical facility want to do something to reduce their overall A/R. It can be difficult, but oftentimes necessary, to look at your facility’s practices to determine what needs to be done to get the revenue owed to your teams. Fortunately, there are medical accounts receivable solutions that can help.
If you have been making note of days in A/R, as well as the age of accounts, you may have noticed an issue with older payments that have yet to be collected. It’s important to remember even claims that are older in age aren’t completely lost and there are things that can be done to recover these claims. Medical accounts receivable solutions, such as follow-ups on those claims that don’t yet have a response, especially those in the higher dollar amounts, can be critical in reducing overall A/R.
Full and accurate reporting is important in the process of recovering revenue owed to you. While a practice or facility can make their own reports, turning to someone who can help them with medical accounts receivable solutions allows them to see in greater detail what is happening with their billing processes. This can help medical billing experts gain a better understanding of what needs to be done with both new and older accounts.
If you would like more information about A/R management, you can contact the team at GeBBS Healthcare Solutions online or by phone at 888-539-4282.
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