Understanding Old AR Recovery
Old accounts receivable (AR) can significantly impact a physician group’s financial stability. Recovering these unpaid claims is essential to maintaining cash flow and optimizing revenue cycle management. MBC specializes in providing tailored solutions to recover aged claims effectively.
Challenges in Recovering Old AR
Complex Insurance Denials
Aged claims often face denials due to incomplete documentation, coding errors, or missed deadlines. It is crucial to identify and address these issues promptly.
Lack of Resources
Physician groups may lack the in-house expertise or workforce to manage old AR recovery efficiently. Outsourcing this task can free up internal resources.
Time-Consuming Processes
The recovery process involves meticulous follow-ups with insurance companies, which can drain time and resources if mishandled.
Benefits of MBC’s Old AR Recovery Services
Streamlined Claim Analysis
MBC’s team thoroughly analyzes your aging AR reports to identify trends and prioritize claims for recovery.
Expert Negotiation
Our experienced negotiators engage directly with insurance companies to resolve disputes and secure payments on overdue claims.
Increased Revenue
Recovering aged claims ensures improved cash flow and boosts overall revenue for physician groups.
Customized Approach
We tailor our strategies based on your practice’s unique needs, ensuring maximum recovery success.
Key Features of MBC’s Service
Dedicated Account Manager
Each physician group is assigned a dedicated account manager who oversees the recovery process and ensures personalized attention.
Regular Progress Updates
We provide weekly and monthly progress reports to inform you about your AR recovery status.
Advanced Technology
Our team leverages the latest tools and software to streamline recovery and improve efficiency.
Compliance Assurance
We ensure all recovery efforts adhere to industry regulations, safeguarding your practice from compliance risks.
Steps to Maximize AR Recovery
Identify and Prioritize
Categorize claims by age and value to focus on high-priority cases first.
Review Documentation
Ensure all necessary documentation, such as medical records and insurance information, is complete and accurate.
Engage Experts
Outsource to a professional AR recovery service like MBC to leverage their expertise and resources.
Track and Monitor
Regularly monitor recovery progress and adjust strategies as needed to maximize results.
Why Choose MBC for Old AR Recovery?
MBC’s proven track record in handling complex AR cases makes us the trusted partner for physician groups nationwide. Our systematic approach, with advanced tools and skilled professionals, ensures that your aged claims are recovered efficiently and effectively.
With MBC’s dedicated recovery services, you can regain control of your revenue cycle and eliminate the stress of old AR. Let us help you transform overdue claims into realized revenue.
Struggling with old AR?
Let MBC help you recover those unpaid claims and boost your cash flow. Contact us today at: 888-357-3226 or email: info@medicalbillersandcoders.com for expert assistance!
FAQs
1. What is old AR recovery?
Old AR recovery refers to the process of collecting unpaid or overdue claims that have not been resolved within the standard payment terms. It helps improve cash flow for healthcare practices.
2. Why are aged claims so difficult to recover?
Aged claims often face denials due to incomplete documentation, coding errors, or missed deadlines. These issues require prompt attention to ensure proper recovery.
3. How can outsourcing AR recovery help my practice?
Outsourcing AR recovery frees up internal resources and provides access to specialized expertise, improving the efficiency and effectiveness of recovering overdue claims.
4. What are the benefits of working with MBC for old AR recovery?
MBC offers a tailored approach, expert negotiation, and advanced technology to recover aged claims efficiently, leading to improved cash flow and increased revenue for your practice.
5. How do MBC’s recovery services ensure compliance?
MBC ensures that all recovery efforts adhere to industry regulations, safeguarding your practice from compliance risks while maximizing the recovery process.
