Medical Accounts Receivable

medical accounts receivable

Improve Medical Accounts Receivable

Collecting What is Owed, sooner
Medical accounts receivable refers to the outstanding reimbursement owed to providers for issued treatments and services, whether the financial responsibility falls to the patient or their insurance company. Healthcare providers must stay on top of efforts to collect reimbursement for accounts receivable. The longer an A/R goes unpaid, the less likely healthcare providers receive payment at all—after 120 days, clinicians can only expect ten cents per dollar owed.

Improving your accounts receivable in healthcare requires active management of your revenue cycle and addressing any process inefficiencies. Dedicating efforts towards optimizing administration, running AR reports, and tracking claims help providers in the healthcare practice recover what otherwise would be lost revenue.

Should aging accounts receivable begin to pile up, providers may wish to investigate outsourcing reimbursement collection to a revenue cycle management (RCM) company like Sagewood Medical Practice Management.

An Efficient Revenue Cycle Is Critical To Maintaining Good Finances. Contact Sagewood Medical Practice Management Today To Partner With Our Team Of Dedicated A/R And RCM Specialists.

Improve Collection Efficiently,
Reduce A/R Days And Drive-Down Aging Hospital Receivables

The healthcare revenue cycle is fundamental to healthcare providers’ ability to maintain physician compensation, keep up with overhead, and invest in new technologies. When the healthcare revenue cycle is not managed well, collection efficiency drops and accounts receivable (A/R) days increase. Numerous tasks go into the revenue cycle, from collecting insurance and procedure data to preparing claims to billing patients. When any of these processes are inefficient or ineffective, the healthcare revenue cycle is needlessly prolonged.

medical accounts receivable

Streamlining the healthcare revenue cycle involves ensuring collection efficiency and monitoring Accounts Receivable days. With a well-managed revenue cycle, money comes in faster, with less effort. Everyone has a role, from physicians, nurses, and other clinicians to medical accounting staff to administrative workers. Here are four ways to improve collection efficiency and reduce A/R days.

  • Make the Healthcare Revenue Cycle More Front-End Driven
  • Put Your Enterprise Data Warehouse to Work
  • Have a Robust Plan for Reducing and Handling Rejected Claims
  • Ask Frontline Staff What They Need to Be Most Effective

Sagewood Medical Practice Management's A/R Specialists Keeps You Organized When It Comes To Billing And Payments.


Medical Accounts Receivable Specialist

For a better revenue cycle management service, it is necessary to keep precision in payment posting. Any rejection should be directed once the payments are posted to patient records. After receiving remittance from health insurance we post the payment actively. If you are searching for a cost-effective and streamlined payment posting for your healthcare practice, Sagewood Medical Practice Management’s A/R Specialist is the best option.
How Does An A/R Specialist Work
An A/R Specialist is responsible for duties necessary in the processing of patient billings from the date of discharge. Strong background in medical billing, using your knowledge and skills to improve current billing procedures and reduce A/R days. Billing tasks require data analysis, in-depth evaluation and exercising judgement within the appropriate scope of practice. Perform posting charges and completion of claims to payers in a timely fashion. Convert dosages to billable units. Submit billing data to insurance providers. Work claims and denials to ensure maximum reimbursement for services provided. Perform Medicare/Medi-Cal review and audits. Implement, maintain and report on programs initiated by the organization.
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