Account Receivables
A robust accounts receivable (AR) process is vital for organizations in various industries, including healthcare. Effectively managing billing operations becomes crucial, given the unique challenges faced by healthcare companies. Discover how we will ensure your success through our efficient accounts receivable management.
Take Control of Your Account Receivable Process and Achieve Maximum Results
We understands the complexities and challenges healthcare providers face when it comes to revenue collection and ensuring proper compensation for their services. That’s why we leverage our experts to streamline the process, minimize denials, and optimize cash flow. Our goal is to ensure that healthcare providers are paid appropriately for the valuable services they provide, while adhering to the highly regulated healthcare industry standards.
Our Account Receivable Process Steps
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STEP 1: FILING OF CLAIMS
Our accounts receivable specialists will file claims with the appropriate insurance provider as the first step.
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STEP 2: CLAIMS TRACKING
To ensure smooth processing of claims, we regularly monitor their status and promptly address any rejections or denials.
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STEP 3: PAYMENT POSTING
We receive payments from insurance companies, customer, or other payers. We verify payment matches the expected reimbursement.
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STEP 4: AGING ANALYSIS
To track outstanding claims, we generate aging reports and categorize them by the number of days overdue (e.g., 30 days, 60 days, 90 days). This will help us prioritize follow-up efforts.
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STEP 5: IDENTIFY DENIAL CLAIMS
We investigate and determine reasons for denials. We take corrective actions, including resubmitting claims with corrections.
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STEP 6: FILE AN APPEAL
If a claim is unjustly denied, we initiate an appeals process to challenge the decision with supporting documentation.
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STEP 7: REVIEW CHARGES
First, we send customer's statements for any remaining balances after insurance payments. Then, we implement a collections process for overdue customer accounts.
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STEP 8: GENERATE REPORTS
We generate performance reports, including key metrics such as Days Sales Outstanding (DSO), collection rates, and revenue cycle efficiency. We use these reports to identify areas for improvement.
Our Comprehensive Accounts Receivable Services
Enhance collection process and send fast follow-ups and reminders as early as 14 days
Checking the explanation of benefits (EOB) and observe strict documentation methods to facilitate financial reconciliation
Why Choose Our Accounts Receivables Services
Start outsourcing DME billing services to streamline your business performance and optimize cash flows.
Why Choose Our Accounts Receivables & Full Service Billing Services
Expertise And Specialization
Cost Savings
Improved Cash Flow
Reduced Administrative Burden
Reduction In AR Aging
Data Security
DME Service Solutions - The Leading Service Provider in DME billing and the Healthcare Industry
+347%
Maintained support for Increase in call volume
-41%
Decrease in average days to collect documents
~15
+166%
Increase CGM Orders YOY Q1-22 vs Q1-23
94%
Consistent service level results
-17%
Decrease in avg handling time