Understanding the Importance of Follow-Ups in Accounts Receivable Management
Healthcare, being an evolving business with disruptive technologies & constant innovation, requires intuitive handling that is focused on quality. Holistic understanding of the key facets of accounts receivable is the need of the hour for providers. Precisely for this reason, outsourcing to a vendor of experience pioneers transparency in medical practices.
It is true that a streamlined model supported by necessary best practices to payer guidelines ensures realization of due payments with a quick TAT in place. To ensure these components, an extensive A/R follow-up is mandatory.
The A/R follow-up team is indispensable to the denial management process. End-to-end management of accounts receivable is crucial to the financial health of a provider with a consistent recovery process in place.
Transparency in A/R follow ups facilitates a practice to be flexible & focus on patient care primarily without fearing about operational hassles. The key to today’s provider’s success lies in
♦ Hiring experienced billing professional to follow-up A/R
♦ Implementing strategic vision in medical billing that revitalizes business with a steady cash flow
♦ Medical coding that complies with present ICD10 norms ultimately helping in precise claim submission process
♦ Excellent communication, understanding of state legislations with attention to intrinsic details boost the caliber of A/R follow-ups.
An accounts receivable outsourcing team functions on two important fundamentals.
♦ A/R analytics
♦ A/R follow-ups.
For tailor-made follow-ups, secondary analysis in A/R is very crucial.
The analysing questions are:
♦ Why the claims got denied?
♦ What are the reasons behind it?
♦ Why insurance company had rejected the claims?
♦ Was the filing was not on time?
Don’t ponder over these questions. An expert intervention of a partner with comprehensive understanding at the payer end claim adjudication cycle brings an added edge. A knowledge based A/R management team in outsourcing with an excellent client engagement model provides right impetus with their best in class consultative aptitude.