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Know the current happenings at Medicalbillersandcoders and it's participation in making billing and coding a simpler process.
Know the current happenings at Medicalbillersandcoders and it's participation in making billing and coding a simpler process.
With the end of third quarter clearing houses witness a surge in inquiries for outsourcing medical billing for recovering their AR. MedicalBillersandCoders.com thus announces AR cleanup Fair.
Physicians of various specialties are getting worked up because of their pending revenue for this quarter of 2014. This is substantiated by a survey we conducted on thousands of physicians on the professional networking platform LinkedIn. Here are some reasons cited for the pending reimbursements:
The Ideal AR Age
Although physicians with an in-house billing team should get their payments within 21 days of filing in case of government insurance payers, in most of the cases it doesn’t happen. A follow-up call to the insurance company takes at least 15 minutes, which means a billing professional has to dedicate at least an hour for tracking four claims.
MedicalBillersandCoders.com holds a record of maintaining the major AR aging portfolio within 60 days for its current set of clients.
Quarterly AR Performance
Our survey threw light on the fact that physicians are so caught up rendering their expert services to patients that they hardly get time to monitor their AR quarterly. Another point that came forth during this survey is that physicians would like to have a comparative figure of both, the patient ageing and insurance ageing.
In case you are not comparing or calculating your AR days already, here the formula to apply:
Accounts Receivable days = Invoice due date - payment receipt date
“MBC has analyzed and recovered maximum possible dues of physicians with minimum write-offs in case of AR age above 180 days, where this particular AR bucket gives only five percent scope for collections,” says Steve Martin, Web Marketing Director. “After observing too many physicians inquiring for an AR cleanup we thought of introducing this AR fair.” The following billing services are the highlights of outsourcing with MBC:
Recover as much payments as possible by sending us your medical practice’s AR report of this quarter. We offer totally customized billing services after analyzing your billing cycle.
Contact:
Prerna Gupta, Media Relations
108 West, 13th street,
Wilmington, DE 19801
Tel: +1-888-357-3226
Email: info@medicalbillersandcoders.com
http://www.medicalbillersandcoders.com/
Medical Billing Blog