Don't leave your accounts receivable’s on the table !


Published on

ARs are the thermometer to measure your financial health. The lower the age of your ARs, the higher your cash flow and revenues.For more info visit us

  • Be the first to comment

  • Be the first to like this

Don't leave your accounts receivable’s on the table !

  1. 1. Presented by,Angomark, MedicalBillingStar
  2. 2.  How would you like your 0-30 days accountsreceivable (A/R) to be 80 % of your total A/R. Yes, it is possible, and the healthiest practices workwith this % as a long-term goal. Here are some areas you can stare at right now thatcan rapidly boost your decreasing cash flow issue .Steps To Improve
  3. 3.  This will instantly result in your claimbeing processed within 30 days, and notspontaneously push it to the 30-60 daycategory. Youre already in trouble if you are notbilling out daily. If your billing company does not do thisnow, have a meeting with them, and askthem to start this process with yourclaims to get immediate outcomes.Bill your claims regularly
  4. 4.  This is a easy solution, that you willsee results within a month or twomonths. When your billing departmentrequests further documentationeither to process an original claim orfulfil a denial or delay in paymentfrom the insurance claims company Is your staff getting back to themwithin 24 hours ? If not, They shouldbe.Handle documents needs fromyour billing sector immediately
  5. 5.  Its no wonder a majority of you’re A/Ris in the 90+ category. If you are billing out on a monthlybasis, your claims are already in the 30-60 day category. On top of that, you now have to waitto hear back from the insurancecompany , so your claims are now inthe 45-60 day category.Thinking about the lifecycle ofa single claim
  6. 6.  If your billing department has requested papers andyour staffs is hearing on those requests because theyretoo busy processing patients, now youve pushed theclaim out to the 75-90 day category. See how rapidly this can happen ? Filling your lobby and rooms with more patients is notthe long-term solution.
  7. 7.  Whether it is an internal billing departmentor an outsourced firm, following up withthem in serious. Some concerns dont want to bother withsecondary claims because the yield is low.Denials are also more work and need moretime with sometimes poor results. Following up with them as frequently aspossible — a minimum once a month is acritical step in dropping you’re A/R.Follow up with your billingdepartment
  8. 8.  Many plans have applications thephysician, nurse practitioner, orphysician assistant must fill out thatinclude their license number andNPI. If your staff have not filled theseout, then you need to check to see ifyour changes (write-offs) are due toa physician not being on a specificcontract.Are all of your practitioners onyour insurance contracts ?
  9. 9.  Blue Cross, Blue Shield, United Health Care, TriCare, andMedicare, are just a few that require this certification. Some workers compensation companies pay differently (up to$10/ visit to $15/visit) for therapists who are considered in-network versus out-of-network. Its really worth your time toask. By following these guidelines today, you can shorten the timebetween seeing a patient and being paid for your services.This will yield you the highest result in the shortest amount oftime.
  10. 10. For a healthier accounts receivables andbetter AR calling servicesVisit www.MedicalBillingStar.comThank You