Title: AR follow- up management: Essential in the medical billing process
1- AR follow- up management Essential in the
medical billing process
2AR follow- up management Essential in the
medical billing process
You must be aware of the Accounts receivable or
AR in medical billing. However, AR follow up is
also essential in medical billing to fetch the
money for practitioners. AR Follow-up team has a
significant role to play in every healthcare
organization and also, this team is responsible
for looking after denied claims and reopening
them to receive maximum reimbursement from the
insurance companies. Why A/R Follow-up is
Important in the Medical Billing Process? Proper
A/R Follow-up management is important for in the
medical billing process, why? Lets discuss some
general reasons Financial stability of
healthcare organization Positive cash flow is
directly proportional to financial stability for
any healthcare organization. These healthcare
organizations need to maintain a steady flow of
revenue to cover expenses that provide patient
enhanced care services. The claims never reach
to the insurance company If the paper claims are
getting lost in midway before they reach the
insurance companies then such claims are not
getting filled to an insurance company. Quick
follow-up can aware of your firm that the
insurance company never received these lost
claims.
Medical Billing Services in Oregon
3AR follow- up management Essential in the
medical billing process
Analyzing claims for collection AR management
mainly deals to reduce the time of outstanding
balance for a particular account. Moreover, The
AR follow up team performs various activities
such as analyzing various accounts that are
having outstanding balances, look for appropriate
action to secure payment, and implements
procedures for secure payment. Corrective
actions to resubmit claims There are various
reasons for claim denial. Now, this team analyses
the reasons for claim denial and take proper
measures to correct it and submit the denied
claims again. Moreover, the A/R team can ensure
that all claims are followed through until the
end. Recover claims which are pending for
information It is observed that claims are
getting delayed due to additional information
needed for the member. Proper following up
enabled the A/R team to aware the member about
the situation and then opt for suitable action to
speed up the process. After the WHY for AR
Follow-up, we need to consider the phases of
medical billing AR follow up. Steps for Medical
Billing A/R Follow Up A/R follow- up must be
carried out in an extremely systematic manner
which is conducted in the following phases
Medical Billing Services in Oregon
4AR follow- up management Essential in the
medical billing process
- Initial assessment of medical A/R follows up
- During this phase identification and evaluation
of all claims registered on the aging report are
done. The AR follow up a team now look providers
adjustment course of action which helps to
identify the claims that can be adjusted. - Analyzing issues with claims
- In this phase team analyses the various issues of
claims that are marked as uncollectible or claims
where the insurance carrier is yet to pay
according to its contracted rate with providers. - Moreover, the appeal/filling limits of the key
carriers will be checked as well as claim address
is verified so that it will reach the ideal
processing unit. - Collection from medical A/R follows up
- Now this phase is crucial and various activities
are carried out based on Analyzing issues with
claims - Claims are refilled if they are within the
appealing/filling limit of the insurance carrier
with properly validating all the needed billing
information - Some claims are appealed to the essential
supporting documents. These claims are mostly
underpaid by the insurance carrier. This appeal
process depends on the plan, state, and insurance
carrier.
Medical Billing Services in Oregon
5AR follow- up management Essential in the
medical billing process
- Now, claims are electronically transmitted
directly to the insurance carriers and in the
case of other carriers, claims are forwarded with
the help of clearinghouses. Now, these claims are
aggressively followed by the insurance carrier
for confirmation. - Nowadays, due to complex medical billing and
pilling up of denied claims, the healthcare
organizations demand billing specialists who are
having a dedicated skill-set to look after your
organizations A/R follow-ups. - Need for A/R team who can follow-up claims
- Apart from AR, there are various procedures such
as payment posting, verification, and charge
entry that needs to get completed first. During
these procedures, a medical billing specialist
determines the exact procedure code and diagnosis
code based on the treatment plan. Still, there
are chances that the insurance company will deny
claims if they dont adhere to the rules,
therefore it is critical to have a dedicated A/R
team who can follow-up with the insurance firm to
resolve denied claims. - Healthcare providers are facing various
challenges such as long receivable cycles that
delay the revenue, fatigues of the billing teams
frustrate the financial management, and
destabilizes the cash flow. However, just by
outsourcing account receivable follow-up services
to an experienced service provider, you can be
focused on your competencies and also, your
business can overcome these challenges.
Medical Billing Services in Oregon
6AR follow- up management Essential in the
medical billing process
Our experienced and certified A/R specialists has
worked with various insurance companies and is
well-versed with their policies. We make sure
that our clients should not have any difficulty
in collecting their service amount from insurance
companies. Connect with our AR specialist today
to collect all your old AR.
Medical Billing Services in Oregon