Formula for Improved AR: Connecting Physicians with Medical Billing Companies through Correct Dashboard

Formula-for-Improved-AR-Connecting-Physicians-with-Medical-Billing-Companies-through-Correct-Dashboard

Your patient’s schedule is piling at the seams. Providers have already added and yet, your cash flow is not up to the mark or say slow. So where is the cash?

Take a good look at your accounts receivable (A/R) process. You may find that efficiency is lacking and overwhelmed staff is hindering revenue growth.

For the healthcare providers, offering critical health care services; having optimized medical billing service is a primary thing. To ensure long term operations, to streamlining the complex collections to overcoming the continual declines in reimbursements and to satisfy the new reforms there are numerous tasks that need to constitute. Therefore; health care service providers need an improved Accounts Receivable (AR) solution that ensures patients information and claims are error free.

How Clinicians Will Have Improved Patient Care Connecting Medical Billing Companies Through Correct Dashboards?

Earlier, Accounts Receivable management was not given much of importance but today it has become an expertise job.

These days, clinicians and physicians can have an improved Accounts Receivable (AR) policy through correct dashboards that manages you’re the day to day revenue cycle without any errors. Anything short of precise pre-authorization, crisp coding, and sharp billing practices is hiding revenue.

  1. Comprehensive dashboards not only collect charged information quickly, as they have built-in error correction and reconciliation processes to assure that every procedure performed is billed.
  2. Along with payments, all EOB information is posted, including denial information.
  3. Secondary claims are filed automatically as soon as the primary payment is posted.
  4. A patient statement is directly sent after an insurance payment is posted, if a patient balance exists.
  5. Patients can pay through online portal, phone or mail with variety of payment types available: credit card, check, e-check, etc.
  6. Rejections are reviewed and processed immediately by the appropriate specialist, based on its type.
  7. Underpayments are identified and worked by an insurance specialist.
  8. Delays in payment from insurers or patients are reviewed with follow-up activity by A/R experts.
  9. Entire billing task is visible to clients on a day to day basis.
  10. Complete reporting and analysis is offered on each client’s schedule: monthly, weekly, daily.

  • Improved Communications

To maximize the financial results of your practice, you need a seamless access to the key metrics which also gives a clear picture of your performance.

That’s why several medical billing companies have come up with innovative ideas; these companies are offering role-based dashboards for every user in your organization with workflow shortcuts, a list of to-do items, and real-time key performance indicators. This keeps your people focused on the key tasks and metrics that drive your success.

This will help health care professionals to connect and communicate better with medical billing service providers for health related information which make it easy to track patient’s encounters with the systems, delivering real time clinical information and content specific about patients’ disposition and obviously a good way to enhance the performance.

  • Maximize Your Revenue

Utilizing enhanced AR feature from a professional medical billing company help improve overall financial performance. The clinicians/physicians are offered improved billing services to help practices efficiently submit medical billing, manage AR, improve collections and capture hard-to-collect payer reimbursements – all while allowing you to control how much or how little support you need.

With a comprehensive dashboard you can:

  1. Confidently control A/R days and all your AR relationships with the payers
  2. Make sure that there is efficient billing and collections process
  3. Dashboard reporting for streamlined oversight
  4. Manages onshore and offshore operations while controlling the costs

This will help your practice improve medical coding, compliance, contract management, underpayment and denial recovery, self-pay and insurance follow-up, with access to timely reporting and analytics to better manage your AR.

  • Better Tracking For All Your Claims And More Cash

Medical billing services revert on the decision based on the clinical information stored in AR.  Initially, the entire process consumed a lot of time and required a good amount of follow-up if there were errors found.

With comprehensive dashboards this hassle has completely gone; ensuring the healthcare provider that it’s the right clinical information fed thus; no more time is wasted here.

  • Happy Doctors And Seamless Communications

When the health care providers miss smallest information of the patient can give rise to severe billing confusion. Since; patients are not aware of these entire process, they are certain to get irritated and this might led them to switch doctors. Communicating through improved dashboard by outsourced medical billing providers helps in keeping the AR and other relevant details accurate.

When your doctors want to know the status of A/R, the dashboard tells all. A/R is improved, revenue increases and morale climbs. More efficiency, more revenue, less time and quality work is what physicians can have when they have improved AR through correct dashboards offered by their medical billing experts.

Final Thoughts

A smart, streamlined workflow is essential for any medical practice. A contemporary dashboard delivers a seamless workflow for staff to swiftly move through patient visits, with efficiency from check-in through check-out. When administrative work flows smoothly, providers can focus on the patient in front of them.

Dashboard surfaces relevant patient information when it’s needed most during each visit, including insurance details, payments, demographics etc. Information that is feed in the dashboard, claims go out as cleanly as possible, and take less time to charge.

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