Tips to Solve Account Receivable Delays for your Practice

July 06, 2017


Legitimate income administration is always critical for any type of organization. One of the foremost problems for income issues is inadequately overseen Accounts Receivable. It is one of the most vital elements that support you and your facility monetarily. And if not followed up and handled properly by the medical billing and coding department, you may face rigorous cuts in your income cycle.

Moderate paying clients may oblige you to draw down your cash reserves, or increment the amount of financing required to cover your operations. As cost of premiums and treatment procedures rises every year, it’s up to each individual physician to duly check and verify their AR with the billing department, and if things aren’t going the way you think, the option of outsourcing the duties is duly available. Yes, offshoring your medical billing and coding requirements to certified agencies can very well lead you to get control of your AR days.

Here are some handy tips to resolve the Accounts Receivable of your practice.

Break down your AR in detail

The initial phase in enhancing your AR is to analyzing your starting point. But, similarly as the extent of patient-paid AR has developed, so too should be the way you run reports. "It's critical to separate the patient AR from the insurance AR to have the capacity to comprehend what's driving each of them. You can't simply take a gander at it as one huge AR.

So in the event that you take note of that your patient AR is mounting rapidly, for instance, that could suggest deficiencies in your front-desk process or the your in-house staff communicates with the patients about your financial policy. Declining execution from the insurer’s side could likewise show front-desk blunders, or indicate a bigger issue identified with the billing department or third party vendors.

Organize the insurance verification process

The starting point of claim reimbursement issue starts with verifying the insurance coverage policy, and how deductibles are allowed by the treated patients. Ensuring you as a physician are checking insurance eligibility well ahead of time of the patient visiting the doctor makes for a solid AR.

If the patient qualification is not verified in advance, or you as a physician’s facility are not in contact with the patients, prior to them visiting the facility, it create s a lot of pressure on the people working at the back end, especially the billing department.

Collaborate with offshore billing agencies

Collaboration, partnership and outsourcing are the trending buzz words that have grasped the most of the US businesses. Call it a lack of expertise, or lack of skilled labor force, most of companies are looking for able partners to get their work done. 

Specialty medical billers and coders are trained to resolve any type AR lag, and ensure that your income cycle is not stretched beyond a certain time frame. They also provide expertise in following up on claims right from charge entry to reimbursement. 

Concentrate on coding

Precision in coding is as important medication prescribed by the doctors. In any primary care facility there is open door for doctors to enhance documentation and coding. At the point when doctors see patients in different settings, like nursing homes or healing centers, it's particularly essential for practices to have frameworks set up to catch the majority of the administrations doctors are giving over these settings. Do remember that a wrong code can send in motion a claim denial or even delay the AR days.

Connect with patients

It's rather critical engage patients ahead of schedule in setting expectation so that a bill or demand for payment won't come as a surprise.

This progression doesn’t stop providing patients with your payment policy or reminding them of their balances. However, it means giving them easy ways to connect with the facility and pay their bills.


Category : Accounts Receivables / Claims Denials