Best Practices for Addressing Legacy AR in Healthcare Billing - PowerPoint PPT Presentation

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Best Practices for Addressing Legacy AR in Healthcare Billing


Learn how to navigate legacy AR challenges in healthcare billing with industry best practices. Contact 24/7 Medical Billing Services now! – PowerPoint PPT presentation

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Date added: 22 February 2024
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Title: Best Practices for Addressing Legacy AR in Healthcare Billing

Best Practices For Addressing Legacy AR In
Healthcare Billing

Best Practices For Addressing Legacy AR In
Healthcare Billing

  • Towering stack of unpaid bills from patients and
    insurance companies, steadily growing taller with
    each passing day. This pile-up of legacy AR isnt
    just a matter of inconvenience its a pressing
    concern that impacts the financial health and
    operational efficiency of hospitals across the
  • As of 2021, hospitals in the United States were
    grappling with over 40 billion in unpaid patient
    bills, according to Healthcare Financial
    Management Association (HFMA) data. This
    staggering figure significantly burdens hospital
    resources, affecting everything from cash flow
    management to patient care delivery.
  • But the problem doesnt stop there.
  • The American Hospital Association (AHA) reports
    that the average hospital spends approximately
    1.2 million annually on uncompensated care,
    further exacerbating the strain caused by legacy


But what are the factors behind Legacy
  • There are several factors that contribute to the
    accumulation of legacy AR in healthcare billing,
    such as
  • Inaccurate billing Errors in coding,
    documentation, or submission can delay
  • Denials and rejections Insurance companies may
    deny or reject claims, requiring additional
  • Patient responsibility Unpaid copays,
    deductibles, or out-of-pocket expenses contribute
    to outstanding balances.
  • Complex reimbursement processes Healthcare
    billing involves intricate rules and regulations,
    leading to delays in payment.


Whats Next?
  • Regular Audits
  • According to the Healthcare Financial Management
    Association (HFMA), regular audits can help
    identify and recover up to 20 of overlooked
    revenue, making them a critical component of
    revenue cycle management.
  • Improved Documentation
  • As per the research, accurate documentation not
    only enhances revenue recovery but also
    contributes to better patient care and compliance
    with regulatory requirements.
  • Streamlined Processes
  • According to the Medical Group Management
    Association (MGMA), practices with efficient
    medical billing and coding processes collect over
    95 of their accounts receivable, highlighting
    the importance of streamlined processes in
    revenue cycle management.


Outsourcing RCM
According to Black Book Market Research,
outsourcing revenue cycle management can increase
collections by up to 15 and reduce AR days by up
to 30. This makes it a viable strategy for
hospitals looking to optimize their revenue cycle
performance. Outsourcing revenue cycle management
to 24/7 Medical Billing Services, specializing in
billing and collection processes, can provide
hospitals with access to specialized expertise
and resources. By partnering with reputable
companies, providers can offload administrative
tasks, improve collection rates, and reduce AR
days. Outsourcing revenue cycle management can
also help providers navigate complex billing
regulations and compliance requirements, reducing
the risk of revenue leakage and penalties.
Overall, outsourcing RCM offers a cost-effective
and efficient solution for healthcare providers
to streamline revenue cycle operations and
enhance financial stability. Contact the team at
888-502-0537 to address your legacy AR.
About us
  • We are a medical billing company that offers
    24/7 Medical Billing Services and support
    physicians, hospitals, medical institutions and
    group practices with our end to end medical
    billing solutions. We help you earn more revenue
    with our quick and affordable services. Our
    customized Revenue Cycle Management (RCM)
    solutions allow physicians to attract additional
    revenue and reduce administrative burden or
  • Media Contact
  • 24/7 Medical Billing Services
  • 28405 Osborn Road, Cleveland, OH 44140
  • Phone no / Fax 1 888-502-0537
  • Email us info_at_247medicalbillingservices.

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