Excellent Medical Accounts Receivable Services
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True Billing Tech
Professional Medical
Account Receivable Services
True Billing Tech for Medical A/R Services
Our Medical Account Receivable Process
Claim Submission
The process initiates with the accurate and timely submission of claims for medical services rendered. This phase involves meticulous coding, documentation, and adherence to regulatory requirements to prevent potential claim denials.
Verification and Eligibility
Prior to claim submission, eligibility verification is conducted to ensure that patients are covered by insurance, reducing the risk of claim rejection. This step involves confirming patient demographics, insurance coverage, and policy details.
Coding and Documentation
Accurate coding of medical procedures and services is critical for successful reimbursement. The medical coding team translates diagnoses, treatments, and procedures into universally recognized codes, facilitating seamless claims processing.
Claims Processing
Submitted claims undergo processing by insurance payers. This step involves a review of the provided information, verification of coverage, and determination of the reimbursement amount. Electronic claims submission expedites this phase.
Payment Posting
Once payments are received from insurance providers or patients, the payments are accurately posted to the corresponding accounts. This step involves reconciling payments with billed amounts and updating the financial records.
Denial Management
In cases where claims are denied, a robust denial management process is implemented. This involves identifying the reasons for denials, addressing issues, and resubmitting claims with necessary corrections to maximize reimbursement.
Follow-Up on Outstanding Balances
Timely follow-up is conducted on outstanding balances, whether from insurance companies or patients. Communication, clarification of discrepancies, and resolution of outstanding issues are vital in ensuring full and timely reimbursement.
Patient Billing and Communication
For patient responsibilities, clear and understandable billing statements are generated. Effective communication is maintained to address patient queries, provide payment options, and facilitate a smooth payment process.
Reconciliation and Reporting
Regular reconciliation of financial records is performed to ensure accuracy and completeness. Detailed reports are generated to provide insights into the financial health of the healthcare organization, aiding in strategic decision-making.
Continuous Process Improvement
The medical accounts receivable process is subject to ongoing evaluation and improvement. Regular assessments of performance metrics, feedback mechanisms, and industry updates contribute to the refinement of processes for enhanced efficiency and revenue optimization.
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Medical Account Receivable Benefits
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Benefits of Outsourcing Medical Account Receivable
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