At Apostle RCM, we understand that accounts receivable (AR) management is critical for healthcare providers to maintain their cash flow and revenue. That’s why we have developed a comprehensive AR follow-up process to ensure that our clients receive timely reimbursement for their services. In this article, we will discuss our AR follow-up process in detail.
Feature AR Follow-up Process
1. Claims Submission
Our AR follow-up process begins with the submission of insurance claims on behalf of our clients. We use state-of-the-art billing software to submit claims electronically, which speeds up the processing time and reduces errors. We also monitor the claims submission process to ensure that there are no issues or delays.
2. Payment Posting
Once insurance companies process the claims, we post the payments to our clients’ accounts. We verify that the payments are accurate and match the expected reimbursement amount. We also reconcile any discrepancies and resolve any payment issues promptly.
3. AR Aging Analysis
We conduct a thorough AR aging analysis to identify any outstanding claims or unpaid balances. Our team of experts categorizes the claims based on the length of time they have been outstanding and develops a prioritized plan for follow-up.
4. AR Follow-Up
We follow up on outstanding claims using a multi-pronged approach. We contact insurance companies by phone, email, or online portals to verify the status of the claims and resolve any issues. We also communicate with patients to ensure that they understand their insurance coverage and any outstanding balances.
5. Denial Management
When insurance companies deny claims, we review the reasons for the denial and develop an action plan to resolve the issues. We appeal denied claims and provide additional documentation or information to support our clients’ claims. Our goal is to ensure that our clients receive the maximum reimbursement for their services.
6. Payment Reconciliation
We reconcile payments received from insurance companies with our clients’ accounts to ensure that they are accurate and complete. We also apply any adjustments or write-offs as necessary and provide detailed reports to our clients.
7. Reporting
We provide regular reports to our clients to keep them informed about the status of their AR. Our reports include details about outstanding claims, payment posting, denials, and collections. We also provide recommendations for process improvements based on our analysis of the AR data.
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