Account Receivable for Medical Practices

Account Receivable for Medical Practices

Any service for which the patient or the patient’s insurance company is billed, the money   Once a patient or the patient’s insurance provider is billed for services, the money payable to the practice is called to accounts receivable (A/R) for Medical Practice.

Delay in revenue can cause major problems with cash flow. We reduce the A/R time by our timely follow up. There are different ways to improve account receivable in health care.

Our Team at Ibex works on Medical Account receivable for medical practice in following ways

Routine follow up:

Our team is in continuous follow up with insurance companies. Through phone calls, website, IVR, fax etc. we get a true understanding about the status of the claim.

Formulate new policies for A/R follow up:

The Ibex team will make follow up calls to the payer post claim submission, so that efforts are not wasted.

Action plan:

Once information regarding status of the claim reaches us, we take actions immediately for medical accounts receivable such as refilling a claim or appeal for reimbursements.

Consistently Run A/R Reports

In general the goal is to keep account receivable days less because this is most helpful for revenue cycle management in medical accounts receivable. Ibex team monitor account receivable. It is important to carefully evaluate Account Receivable for Medical Practice data every month to focus on troubling developments or constant issues with gathering payments.

A/R workflow automation

It frees up time by managing some of the more difficult duties coupled with accounts receivable in healthcare. Our programs make automated A/R more possible.

Benefits of medical billing and accounts receivable

Our complete package of Account Receivables for medical practice and denial management services offers Health care providers and hospitals the following benefits:

  • Efforts on resolving the claim. They pay more attention to resolving the claim rather than just finding the status of the claim.
  • Adoption of technologies. By using new and advanced technologies for checking the status of the claim, such as web portals, rather than checking the claim manually.
  • Web based workflow system. Our claim follow-up work has been defined with a web-based system that improves our quality of documentation.
  • Increased reimbursements and decrease of days in A/R. There is marked decrease in account receivable days and increased collections for our clients.

With a few combined plans and help from the exact means, Account Receivable for Medical Practices does a better job of backing up the finances  of the process. If you want to improve your account receivable performance visit for finding out more about our solutions.