Investing in recovering your hospital’s old Accounts Receivable (AR) is a strategic move toward ensuring long-term financial viability and growth. AR, representing outstanding payments owed for services rendered, plays a crucial role in hospital finance. Neglecting old AR can lead to decreased liquidity and increased bad debt write-offs, adversely affecting financial stability. Introduction Old AR […]
Bridging the Gap: How Investing in Your Hospital’s Old AR Recovery Drives Financial Growth
Read More.. Bridging the Gap: How Investing in Your Hospital’s Old AR Recovery Drives Financial Growth
Secure Your Million-Dollar Optometry Accounts Receivable
Managing the financial health of your optometry practice goes beyond providing exceptional eye care. Securing your accounts receivable ensures steady cash flow and sustained growth. This comprehensive guide delves into strategies explicitly tailored for optometrists to safeguard their million-dollar accounts receivable. We’ve got you covered, from optimizing billing practices to enhancing patient communication. 1. Understanding […]
Legacy AR Recovery for Palliative Care and Hospice Care
Legacy AR Recovery is the process of collecting unpaid or underpaid claims from insurance companies for palliative care and hospice care services. Palliative care and hospice care are specialized forms of medical care that aim to improve the quality of life of patients with serious or life-limiting illnesses and their families. Palliative care focuses on […]
Solving the Puzzle of Legacy Accounts Receivable
Managing legacy accounts receivable can be a challenge for hospitals. These outstanding balances can be difficult to collect and may have been on the books for years. They can negatively impact a hospital’s cash flow, financial performance, and overall stability. However, with effective management strategies and best practices, hospitals can tackle the puzzle of it […]
Importance of A/R Follow-up in Medical Billing
Importance of A/R Follow-up Medical billing is a complicated process that requires special skills in medical billing, coding, denial, and AR management from experienced and well-trained staff. The financial health and success of any medical practice are dependent on maintaining positive cash flow. In order to provide patient care and cover expenses, it’s important that […]
Systematically Reduce Your Accounts Receivable
Accounts receivable management plays a key role in having stable financial health for your practice. Accounts receivable is nothing but the amount owe to you by insurance companies and patients. As the number of days increases to collect this amount, the chances of collecting this amount also decrease. Accounts receivable are classified in a number […]
Decrease aging accounts receivable and increase staff efficiency
An increase in Account Receivable from one period to another indicates that payments such as copays (and increasingly, deductibles for those patients with high-deductible health plans) are not being collected upfront. It threatens the cash flow of the practice. In growing healthcare practice, it is necessary to keep track of claims that are billed but […]
How to Boost A/R Productivity for Success of Revenue Cycle during Pandemic?
Are you thinking that revenue flow is interrupted due to high accounts receivable? Of course, you need to boost A/R productivity for the Success of Revenue Cycle but you aren’t the only healthcare professional to face revenue loss but you can make a difference particularly during the pandemic. Insurance companies are obliged to pay healthcare […]
Account receivable services in Healthcare
“Account Receivable” (AR) is a widely used term referring to the amount of money that a customer owes to the company. Similarly, in the healthcare industry, AR means the patient’s account balance becomes due for payment within a year. Account receivable services include the management of many reports dealing with insurance, collection analysis, write-offs, bad debt […]
Optimize AR and Collect More Revenue from your Aging AR
Continuous cash flow is needed in order to smooth the running of your practice and an effective revenue cycle is crucial in order to manage good finances. Things such as investing in new technologies, managing the compensation of physicians, and keeping records are given the capability to healthcare providers, which is a part of the […]
