Challenges of Accounts Receivable in Orthopedic Billing Accounts Receivable (AR) is an important aspect of orthopedic billing, as it refers to the amount of money owed to an orthopedic practice by its patients and insurance companies for services rendered.

1. Reducing Accounts Receivable In Orthopedic Billing

2. Call us at: 888-720-8884
Email us at: richard.smith@medisysdata.com
Reducing Accounts Receivable In Orthopedic Billing
Challenges of Accounts Receivable in Orthopedic Billing
Accounts Receivable (AR) is an important aspect of orthopedic billing, as it refers to the amount of money owed to an
orthopedic practice by its patients and insurance companies for services rendered. However, managing AR can be
challenging and can create several obstacles for an orthopedic billing process. Some of the common challenges of
accounts receivable in orthopedic billing include complex billing requirements, denied or rejected claims, coding errors,
inaccurate patient information, and delayed payments. Reducing accounts receivable in orthopedic billing can be
challenging as it requires a dedicated team of billing professionals who can navigate the complexities of insurance billing
who can identify and resolve coding errors and effectively manage delayed or denied payments.
Reducing Accounts Receivable in Orthopedic Billing
Reducing accounts receivable in orthopedic practice requires a strategic approach that involves implementing effective
billing and collections procedures, optimizing revenue cycle management, and improving patient communication.
Following are some specific steps that can help:
Verify Insurance Coverage
Always verify patient insurance coverage before every single appointment and ensure that all necessary authorizations
are obtained before services are rendered. Verifying insurance coverage includes varies steps like verify patient
information, check for coverage limits, and check for prior-authorization requirements.

3. Call us at: 888-720-8884
Email us at: richard.smith@medisysdata.com
Reducing Accounts Receivable In Orthopedic Billing
This will help to avoid any delays or denials of claims, reduce the number of accounts receivable and will ensure timely
payments.
Denial Management
Regularly monitor your claims and review any denials to identify trends and areas for improvement. If a claim is denied,
appeal it promptly with supporting documentation. Accurate and complete documentation is the first step to reduce
claim denials in orthopedic billing. Make sure that all the information in the claim is accurate and up-to-date, including
patient demographics, insurance details, and the diagnosis and treatment codes used. Also use the correct diagnosis
and treatment codes when billing for services. Stay updated with the latest coding guidelines and ensure that all codes
used are supported by the documentation. To reduce claim denials, stay up-to-date with the latest industry changes and
billing regulations, including any changes to coding and billing rules.
Provide Clear Payment Information
Provide patients with clear information about their financial responsibility and payment options before they receive
services. Make sure that your patients understand your payment expectations before they receive any services. Clearly
state what services are covered by insurance, what the patient’s out-of-pocket expenses are, and when payment is due.
This can be done by providing patients with a payment policy and/or a fee schedule. This can help to reduce confusion
and improve collections.

4. Call us at: 888-720-8884
Email us at: richard.smith@medisysdata.com
Reducing Accounts Receivable In Orthopedic Billing
Collect Payment at the Time of Service
Collecting payment at the time of service is crucial for any orthopedic practice to ensure steady cash flow, reduce bad
debts, and improve overall financial performance. As co-pays are a patient’s responsibility, collecting them upfront
ensures that you are paid for this portion of the bill. You can also collect any other out-of-pocket expenses at the time of
service. Explain your payment policy to patients before the appointment. Let them know that payment is due at the
time of service and what payment methods you accept. Explain to them the importance of paying upfront and how it
can benefit them, such as avoiding surprise bills and reducing their overall healthcare costs.
Offer Payment Plans
Offer patients different payment options, such as credit cards, debit cards, and cash. Offering payment plans can help
patients who cannot afford to pay their bills in full. This can help reduce the number of unpaid bills and can also help
retain patients who may otherwise seek care elsewhere. When offering payment plans, it is important to clearly state
the terms and conditions, such as the length of the payment plan and any interest or fees that may be charged. This can
help to reduce the amount of outstanding balances and increase cash flow.

5. Call us at: 888-720-8884
Email us at: richard.smith@medisysdata.com
Reducing Accounts Receivable In Orthopedic Billing
Above mentioned steps will help you in reducing accounts receivable in orthopedic billing. If you are short on manpower
or don’t have skilled orthopedic coders and billers, we can assist you in reducing your accounts receivable. Medisys Data
Solutions is a leading medical billing company providing complete billing and coding services for various medical billing
specialties. Our experienced orthopedic coders and billers will ensure accurate insurance reimbursements for delivered
services. To know more about our orthopedic billing and coding services, contact us at info@medisysdata.com / 888-
720-8884

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