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Reducing 121+ ar bucket
- 2. Define Phase An accounts receivable aging is a report that lists unpaid customer invoices and unused credit memos by date ranges. Aging Buckets. Aging buckets are time periods you can use to review and report on your open receivables. For example, the 4-Bucket Aging bucket. 0-30, 31-60, 61-90, 91-120, 121+. 121+ Bucket is the aging bucket which is considered as non-collectible bucket. Because most of the insurance timely filing and appeals limit is limited to 90 or 120 days. So any claim is passing 90+ days is mostly likely to be adjusted and chances of getting those claims paid is very less. According to MGMA (Medical Group Management Association) has set a benchmark for each AR buckets. Which is as follows
- 4. Business case Project name: - Reduction of 121+ AR Bucket Problem / Impact:- Huge Inventory / Bad reflection on work flow Expected benefits:- Maintaining the Industry standards Objectives Outcome Process improvement / Reduction in AR inventory Proposed targets Reducing the 121+ AR bucket to MGMA standards i.e., 24% Time frame 2 months Team Sponsors Team Leader Vasudeva.R Team Members: Sneha Pillai, Madan.K, Vipin Venugopal, Smitha Prabhakaran Process Owners Cascade Revenue Management Management review team Rajesh Khanna, VP, Cascade Revenue Management Scope In scope Focusing on 121+ AR Bucket Out of Scope Other AR Buckets Goal Is to reduce the 121+ AR balance which is 68%. It is about 40% higher than the MGMA standards Schedule Completion date 09/27/2019 Review date 09/27/2019
- 6. Payer family Sum of Balance Horizon $803,661 BCBS $302,109 Health first $255,460 Aetna $221,850 Cigna $142,054 Commercial $121,370 UHC $89,246 Medicaid $62,755 Amerihealth $53,676 Metroplus $48,709 Medicare $38,330 Emblem $36,940 Wellcare $23,840 UNITEDHEALTHCARE COMMUNITY PLAN NJ $9,100 Oxford $5,790 Grand Total $2,214,890
- 7. Method Management Environment Incorrectallocation Onjobtraining Incorrectactions Exceptions notaddressed Lackof knowledge Transactionreport Software NoproperARreport Work sheet Man Material Machine 121+Bucket reduction
- 9. Communication Mode Frequency Responsibleteam Distribution Escalation ActionsonARdenials Meeting Daily AR/DenialTeam ARTeamManager, AE,TeamManager Weeklystatusupdate Email Weekly AR/DenialTeam ARTeamManager, AE,TeamManager Exceptionraisedclaims Conferencecall Weekly AR/DenialTeam ARManager, Client AE,TeamManager