To avoid significant loss of revenue, a healthcare organization or a medical billing company should take care of one of their most important tasks known as AR follow up . Many face a lot of challenges while dealing with their AR follow up in Medical billing. Therefore, to avoid undue worries and a significant loss in ROI, it is essential for them to work on a structured and streamlined process. So, it would be of great help for health businesses by outsourcing their accounts receivable follow up work to a professionally experienced and renowned medical billing service provider who can help them to save on manpower and reduce costs.
Wrong or Missed ICD-10 diagnoses, Wrong or Missed CPT-4 modifiers, Duplicate claim process, More information needed for claim process, Incorrect billed amount for Claim, Wrong or missed code of CPT procedure, Wrong or incorrect name and/or UPIN of Physician, Wrong or missed service code, Wrong or missed quantity in billed claim, Inappropriate bundled services
So, we can see above reasons that the key causes of claims denials are due to wrong/missed data entry and incorrect medical coding. Moreover, following reasons further added administrative strain on a hospital or physician’s practice:
Continuous piling-up of outstanding claims and delayed collections Most often, insurance companies deny or refuse to pay claim Current Federal regulations in the USA have increasingly become more stringent as they have reduced the time to file an appeal against a claim denial.
We help physician’s office to avoid payment delays by utilizing following steps:
We deeply review all claims before submission to significantly cut down on the error rate. Rather than spending a long time to deal with each denial, we spend enough time on reviews at the front end. We also maintain a medical billing and coding claims review log. We thoroughly evaluate and monitor recent trends to locate various suitable ways of fixing the key problems causing the denials and rejections at your practice. Our dedicated team of experts is involved in various accounts receivable follow up processes including tasks of data entry, billing, and payment posting, coding and documentation, analyzing denials and down coding get together.
Our reliable and efficient Services of Accounts receivable follow up Process Includes:
Identify and selection of accounts that require follow-up with insurance providers. Our experts deeply research the claims denials by the carriers, rejections from the clearinghouse, and low payments received by the carriers. The Accounts receivable follow up team regularly follows-up with the insurance company to know the claim status. As per the inputs received from the follow-up team, the AR analysts perform an analysis and compile all claim information to initiate a corrective action for non-payments. Finally, a needful action is planned and executed to receive the pending AR payment.