Effective account receivable management strategies are a crucial part of running an effective healthcare practice. An improving and streamlined account receivable process carries many advantages to the table. It also impacts the overall medical billing operations.
https://www.ecareindia.com/accounts-receivable-management.html
PowerPoint Presentation
www.ecareindia.com
Strategies to Improve Account Receivable Management
Effective account receivable management strategies are a crucial
part of running an effective healthcare practice.
An improving and streamlined account receivable process carries
many advantages to the table.
It also impacts the overall medical billing operations.
By adopting an efficient strategy, dramatic improvements result
in the account receivable process and provide exciting benefits for
the business.
Let us discuss some of the strategies to improve account
receivable management.
Introduction
www.ecareindia.com
Looking at a rapidly developing heap of account receivable will
just put you on the road to success.
For that, we recommend analyzing your account receivables.
During the analysis, first, you have to measure the “days in AR”
which means the average number of days required to collect the
payments due to the practice.
Also, you need to measure the aging bucket for instance
0-30days, 31-60days, 61-90days, etc.
These factors help you to track progress with older bills.
Analyze Your Accounts Receivable (AR) In Detail
www.ecareindia.com
Prioritize Insurance Eligibility Verification
Prior insurance verification is one of the strongest indicators
of AR.
Checking the patient’s insurance eligibility and coverage is the
essential step in keeping up the financial growth of the medical
practice.
There are various ways to verify eligibility, namely: on the
payer site by utilizing software and third-party products to gather
detailed information.
During the insurance eligibility
verification following details are also checked.
Insurance coverage details like coverage date, in-network
or out of network coverage Whether is it Co-pay amount
If it is Deductible amount and how much has been met up until
now
www.ecareindia.com
To improve the billing collections, identify the most common
reasons for claims denials.
Below listed are few possible reasons for claims getting
denied:
Identify the Denial Reasons
Incorrect information from the patients
Charge Entry mistakes
Registration data error
Claims Duplications
Pre-authorization errors
Lack of medical necessity documentation
Bundled or Non-covered
Credentialing and documentation errors
www.ecareindia.com
Outsource Account Receivable Management
Medical billing outsourcing company provides end-to-end
medical billing services for physicians.
They use the latest, technologies to optimize business
performance.
Benefits of outsourcing the Account Receivable Management.
Identifies denied claims, unpaid claims, and low payments
Improves cash flow
Minimize accounts receivable days
Ensure error-free claims submission
An efficient follow-up to settle outstanding claims and dues
Reduce medical billing and coding errors
Processes medical claims faster
Improves billing collection rates
Saves operational cost
www.ecareindia.com
Looking for medical billing companies in India?
e-care is the best medical billing outsourcing company.
We achieve effective revenue cycle management for your
business.
To know more about our services visit us www.ecareindia.com
About Us
www.ecareindia.com
CREDITS: This presentation template was created by Slidesgo,
including icons by Flaticon, and infographics & images by
Freepik and illustrations by Stories
Inspiring And Motivating Theme
Twisterium
Corproate
90750.43
https://www.pond5.com/artist
