Account Receivable

Any payments due from payers, or other guarantors are considered account receivable. It is crucial for physician practices to track the claims they submit to insurance companies to optimize revenue recovery and increase revenue. The goal of accounts receivable management is to achieve the shortest collection period possible.

ABCLLC follow up the claims in 30 working days from the claim submission date. 

  • Claims never go missing
  • Minimize time for outstanding accounts
  • Shrink account receivables by 45 – 60 days
  • Claim denials can be followed up 
  • Helps in recovering overdue payments
  • Recovering claims kept pending for information

 

Best Medical Billing Company

AR Follow-up and analysis process

Account receivable team regularly follows-up with the insurance company to know the claim status on 30th day from claim submitted date.

  • Claim inquiries are done efficiently by live chat, secure email,Insurance calling and secure message on insurance portal.
  • Claims needed resubmission are checked for all necessary documents such as Medical records, Referral, Prior Authorization etc. 
  • Unpaid VA claims are followed up by submitting medical records and resubmission every 45 days.
  • ABCLLC conducts frequent AR analysis to compile all claim details to initiate corrective actions for non-payments.
  • Insurance claims pending because of COB, Pre-existing condition etc are followed up aggressively, every week.
  • Every week Account receivable aging reports are compared with previous weeks to identify:
  1. Unpaid Claims
  2. Low Paid Claims
  3. Denied Claims
  4. Rejected Claims
  5. Claims not on file

Reports

The following default reports are generated monthly.

  •  Account Receivable Aging Report by Primary Insurance
  • Account Receivable Aging Report by Secondary Insurance
  • Account Receivable Aging Report by Patient
  • Collection report
  • Charges and payments comparison
  • Denial summary
  • Total visit comparison
  • Coding analysis 
  • CPT units production comparison
  • Encounters comparison by service location
  • Payor mix summary

Account receivable comparison with others

Account Receivable ABC LLC Others

All claims are followed up on 30th day from claim submitted
date on Insurance portal or by calling

Best Medical Billing Company

Best Medical Billing Company

Access created in all insurance portals to check
eligibility and claim status

Best Medical Billing Company

May be

Claim inquiries are done efficiently by live chat and
secure message on insurance portal

Best Medical Billing Company

May be

Lost EOBs paper check cashing details are verified
with provider and insurance

Best Medical Billing Company

Lost ERAs paper check and EFTs cashing details are verified
with provider and insurance

Best Medical Billing Company

Best Medical Billing Company

Disability, accident, DFACS and workers compensation claims
are followed up by secure email communication

Best Medical Billing Company

Best Medical Billing Company

Delayed VA claims are followed up by submitting medical records
and claims every 45 days

Best Medical Billing Company

Best Medical Billing Company

Account receivable reports grouped by primary, secondary
insurance and patients are emailed securely every Monday

Best Medical Billing Company

Best Medical Billing Company

Monthly and yearly comparison reports are emailed to
identify increase or decrease in practice revenue

Best Medical Billing Company

May be

Write - offs are posted only with providers consent

Best Medical Billing Company

Best Medical Billing Company

Secondary and tertiary claims are followed up separately for
revenue generation

Best Medical Billing Company

Best Medical Billing Company

Missing ERAs are traced and imported from Clearing house portal

Best Medical Billing Company

No

Monthly practice analysis is done and suggestion is made to the
providers to increase revenue

Yes

No

Providers requests turn around time is less than 4 hours.

Yes

No

All medical record requested claim are followed up
on the 30th day of MR submission

Yes

No

Claims denied due to Coordination of benefits are resolved by conferencing
the patient and the insurance

Yes