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Insurance A/R Follow up

Billers following up with insurance
Are you aware of your outstanding insurance A/R?

The aging of AR is imperative to watch because it's ever evolving and the older claim gets, the harder and more costly they become to collect. The number of services provided by physicians, hospitals, and nursing homes keep on increasing. Each time provider renders treatment and care to a patient, they owe a certain amount to the physicians or hospitals. 

It's difficult to presume that what the mix inventory of A/R you currently have and can lead to immediate and long term complications and significantly decrease cash performance. In depth analysis and right process implementation is the key to to drive and streamline the messy inventory to the right direction in order to achieve the desired results. This is when you need your A/R followed up by experts.

We have broken the A/R Follow-up into 3 phases -

A/R follow-up must be done in a systematic and analytical manner. We personally believe that there are three phases to conduct A/R analysis which are as follows:

 
Phase 1: Initial Evaluation

The first step in improving your AR is to analyze your inventory right from the starting point. This stage involves the identification and analysis of the claims listed on the A/R report by ageing. It’s important to separate the patient AR from the insurance AR to be able to comprehend what’s driving each of them. You can’t just analyze both together.

Phase 2: Analysis and Prioritizing

In this phase truly uncollectible cases are identified in order to be adjusted off or claims which are underpaid as per the carrier contract rate with the healthcare provider. Also, it's imperative to control of AR that has aged over 90+ days to make sure days in AR remain under control for regular cash-flow and to avoid untimely insurance follow-up write off which could lead to lose of revenue.

Phase 3: Collection

If any claim gets rejected/denied due to billing/coding errors and still within filing limit of the carrier is resubmitted after necessary verification of all the data such as claims mailing address, payor ID and other billing rules. Once insurance and patient payment is posted for outstanding claims, patient statements are generated as per the provider's guidelines and then followed up with the patients for payments.

Outsource your Account Receivable follow-ups to OMB -

Our highly experienced team is specialized in denial follow up, no response/activity follow up, payment posting, charge posting, insurance eligibility verification, EDI rejection handling and appeal writing. Our state of the art practice management applications and tools keep track of every single claim with status. We ensure that our customers do not face any difficulties in receiving the payments for the services they have rendered.

If you are struggling with collections and unable to keep track of your A/R, feel free to get in touch with us and we will be happy to help and see you grow as we offer best services at a very reasonable cost.

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