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Medical billing ar a general overview


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To ensure maximum reimbursement, medical billing AR has to be efficiently managed.

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Medical billing ar a general overview

  1. 1. Outsource strategies International Call: (800) 670 2809 Medical billing AR: A general overviewAccounts Receivable (AR) are the medical insurance claims that are unpaidby insurance companies or patients. Accounts Receivable is one of the mostsignificant assets of a healthcare practice. Medical billing AR services aredesigned to efficiently resolve issues with unpaid claims in healthcarefacilities by maximizing their reimbursement.Overview of Medical Billing AR ServicesThe aim of AccountsReceivables management is torecover the funds payable tothe healthcare provider as fastas possible. The problemsassociated with AR includedenials, wrong information,improper billing practices,and erroneous medical codes.Medical claims could be denied because coverage is terminated, the providerID is missing or invalid, diagnosis code is invalid, modifiers are missing orinvalid, and so on. Similarly, if billing practices do not follow federal norms,they are deemed improper and lead to claim denial. Insurers also refuse topay when the wrong medical codes are given for the services provided.One of the first steps in AR management is the appropriate analysis ofdenied claims. Regular follow-up with insurance companies and patients foroutstanding claims and dues are also an integral part of the procedure. The Medical Billing AR
  2. 2. Outsource strategies International Call: (800) 670 2809most basic assessment of medical billing AR requires information onmonthly charges, monthly receipts, and total A/R at the end of the month.As AR management is a specialized procedure requiring a lot of attention todetail, the best option for healthcare practices is to outsource the task. Aprofessional medical billing company would have AR managementspecialists to report and follow up unpaid claimsAR management services include • Insurance follow-up: Most healthcare providers and medical billing companies face revenue losses due to the lack of follow-up on outstanding claims with the insurance companies. AR management companies provide follow up services to ensure timely payment of claims. Their denial management process would include follow-up to obtain the current status of the claims, status of appeals and reasons for claim denial. A tracking system is established to provide reports on claim denials. This helps healthcare practices to take measure to prevent problems from recurring. To provide professional claim follow-up services, accounts receivable management firms have a dedicated follow-up team that analyzes the unpaid and underpaid claims. They keep in touch with insurance firms by phone and e-mail to ensure that claims are settled quickly. They negotiate with the insurers and dispute unjustly denied payments by proving medical necessity. • Appeals for denied claims: Appeal letters are prepared for claims that are denied and need to be appealed. Care is taken to see that appeal letters are accompanied by necessary supporting documents. Medical Billing AR
  3. 3. Outsource strategies International Call: (800) 670 2809 • Follow up with patients: Claims are often denied because of missing patient data. So medical accounts receivable management also involves follow up with patients. Calls are made to patients to obtain missing patient information, insurance information and also discuss outstanding patient dues. Patients’ accounts are continuously tracked and followed up till the cash is received. Procedures include sending letters, statements, notices, and making phone calls to expedite collections. • Credit balance audits: During collection retrieval, an audit of all the accounts is carried out to settle unidentified and duplicate payments. • Clean-up of old accounts receivableIt’s very important to locate a professional and experienced medical billingcompany for efficient medical billing AR management. The right serviceprovider can help resolve all the issues involved to improve the bottom lineof your medical practice. MOS Outsource strategies International 8596 E. 101st Street, Suite H Contact Details Tulsa, OK 74133 Phone: (800) 670 2809Article Source: Medical Billing AR