Money waiting to be collected is revenue loss!
Our billers believe that accuracy of the claim and the time spent on retrieving
the payment are key points in optimized revenue collections. Our aim is to improve
the client's cash flow by reducing days in accounts receivable and improving profitability,
by increasing collections ratio.
Our billers identify category/payer combinations and work on resolving the mix that
results in the best collections. They prioritize the claims by dollar value and
date of service. They organize the Account Receivables timeline wise (AR days between
30 to 45 days, 45 days to 60 days and beyond 60 days)and work on critical claims
Our billers are well versed in identifying patient accounts that require follow-up
and take the necessary action to collect unpaid and partially paid claims.
Billers in our consortium run reports on account 21 days past due and call insurance
companies to check claim status, re-file, or gather additional information. They
keep the average age of account receivable at 25 days or less.
It has been observed that revenues for most clinics are stuck in this stage where
Insurance Follow up is not a priority. Thousands of dollars are waiting to be collected
but follow up with long hold periods on the phone with Insurance companies is tedious
and must be minimized with efficient maneuvers of IVRs.
Our billers have spent years doing this, some of them have such established relations
and great understanding of claim status that they don't even pick up the phone to
follow up. They know their jobs!