Accounts Receivable / Payment Posting

Accounts Receivable

Our Accounts Receivable team is here to ensure your facility receives payments for goods and services, and records these transactions accordingly. Each AR team member focuses on securing revenue by verifying and confirming the posting of receipts, and resolving any discrepancies regards to payments from patients and/or insurance companies. Each client receives a dedicated account representative.

Our main goals are to:

- Maintaining the billing system

- Generating invoices and account statements

- Performing account reconciliations

- Maintaining accounts receivable files and records

- Investigating and resolving any irregularities or enquiries

- Improve Net Collections Percentage

- Increase Net Receipts

- Decrease average days in AR

Successful accounts receivable management requires a full understanding of how each area or department relates to and influences the revenue cycle and the AR collection period.

Payment Posting

Payment posting in medical billing is one of the key processes that get the utmost attention from our Operations management.

All payers either send an EOB (explanation of benefits) or ERA (electronic remittance advice) towards the payment of a claim. Our payment posting team member will post these payments immediately into the respective patient accounts, against that particular claim to reconcile them. The payment posting is handled according to client-specific rules that would indicate the cut-off levels to take adjustments, write-offs, refund rules etc.

Co-pays, deductible and non-covered services that are paid in cash are applied to patient accounts in order for the need to be correctly accounted against the claim to avoid any inflated AR and proper closing of the claim.

Goals:

  • Posting Payments within 1 working day
  • Re-organizing Low Pay Claims
  • Auto-Generate Custom Appeals