Nursing home accounts receivable can be tedious as it remains unavailable for long periods of time despite being the largest asset shown on the balance sheet. In such circumstances, nursing homes should look for a streamlined accounts receivable process that’s designed to increase the revenue collection by a considerable amount.
♦ Expert in collecting Accounts Receivable as old as 4 years ♦
The good news for you is GoTelecare through its highly skilled staff, use of latest technology, and state-of-the-art infrastructure provides reliance to the nursing homes across the country. We have seen numerous success stories in nursing home accounts receivable management since we started our journey in 2007. Unlike most professional medical billing services, GoTelecare has a separate accounts receivable management mechanism in place for nursing homes.
The complete map with Nursing Home Accounts Receivable Recovery
As a next gen medical billing and collections company, GoTelecare sets the trend with best in class practice management/revenue cycle management standards.
Our three step elimination process with
AR analysis – Our AR experts through their experience of handling numerous cases have observed the following and provide solutions based on this and also based on the case specific issues:
⇒ Almost 14% of the claims that are submitted to the payers get denied and have to be resubmitted as well as appealed or written off by the healthcare providers.
⇒ It is a fact that around 50% of the claims that get denied are never refilled
⇒ 50-70% of denied claims have a higher chance of being recovered
♦ Payer follow-up – We insist on an aggressive follow-up process, chasing the insurance company on all accounts at any stage of the aging bucket.
♦ Online claims follow-up: We keep tab on the status of outstanding claims using various insurance company websites and Internet payer portals.
♦ Automated claims follow-up- We keep track of the status of unpaid claims through Interactive Voice Response (IVR) of the insurance companies.
♦ Insurance Company Representative: We also follow the direct approach of calling an insurance company representative to gather the detailed reason for claim denials when such information is not available by the first two methods.
♦ Our claims closure process is smooth and will help you in leveraging maximum recovery.
We have the experience of working with 100’s of top-ranked nursing homes and care facilities and successfully provided them customized AR solution. Add your name by partnering with us, get in touch and let us help your practice through our expertise and experience.