Healthy cash inflow is at the heart of any successful business, and healthcare facilities are no different. This also explicates the need to incorporate robust accounts receivable (AR) system in the medical billing industry. However, managing your accounts receivable while complying with the dynamic nature of the healthcare industry can be challenging. Denials in insurance claims, bad debts, unwanted write-offs, a disorganized collection process, and restrictive modes of payment are some key factors that can significantly impact your business's cash flow. This is where accounts receivable solutions for healthcare providers comes to the rescue.
Streamlining your healthcare accounts receivable management with a robust process backed by powerful tools will improve the end-to-end invoicing process while ensuring the accurate completion of hands-off, mundane, and repetitive tasks. So, if you aim to optimize your medical billing, payments, and collection processes to achieve quick resolution of unpaid claims and minimize costs of A/R follow ups, then our services can help you greatly.
Approximately 41% of adults owe a minimum of $500 to their healthcare providers. These unsettled claims or delayed collections can take a toll on an otherwise thriving practice. Is this loss inevitable? Absolutely not! Placing patient care as the #1 priority does not necessarily mean that you should let your medical billing and payment tasks take a backseat.
With over 20 years of experience in the healthcare industry, we have a reputation for sweating the details and provide with efficient medical account receivable services to our high-end clients. Feel free to let our qualified professionals take care of your A/R backlog clearance tasks while aiding you to focus on your medical facility's essential operations.
Medical Accounts Receivable Solutions We Offer
Our team of qualified and skilled professionals can help you alleviate a major headache called “accounts receivable” with our HIPAA-compliant medical AR services. Read on to find out some of our medical accounts receivable solutions that we take care on your behalf.
Partnering with an experienced company like us allows you to have a team devoted to A/R follow-ups to reduce your outstanding A/R substantially. Our team will track unsettled or delayed accounts and determine the most suitable action to secure prompt payment.
Our primary goal of medical accounts receivable management services is to elevate cash inflow into our client's healthcare facilities while minimizing their collection period and other related costs.
Bad Debt Analysis
Our medical accounts receivable solutions comprise of an analytical approach to efficiently collecting receivables helps our clients identify bad debt and implement strategic processes to eliminate it without burdening patients.
Credit Balance Services
Collaborate with our medical accounts receivable services to maximize identification and recovery efforts for your facility's overpaid claims for healthcare payers.
Verifying your patient's insurance coverage and benefits is another step to prevent unsettled claims. By outsourcing healthcare accounts receivable services with us, you will be able to ensure a healthy cash flow while minimizing your denied claims.
Leverage our industry experience in successfully managing system migrations and practice integrations to resolve your healthcare's accounts receivables smoothly.
Determining the precise reason your medical facility is facing a drop in cash influx and an increase in unresolved claims can offer you a 360-degree accounts receivable analysis solution to prevent bad debts and ensure a swift collection of payments.
Our AR calling services is directed to cater to the needs of hospitals, doctors, and diagnostic/ scanning institutes to ensure efficient monitoring of unpaid insurance claims (electronic or paper), handle patient collectibles, and generate accurate AR reports.
Software We Leverage for Accounts Receivable Services
Being one of the leading providers of accounts receivable services in the industry, we believe in providing our clients with the best quality services within a quick turnaround time. This is possible by making use of the latest and best healthcare accounts receivable tools and technologies. Some of the software we leverage include -
Process We Follow for Our Healthcare Receivables Solutions
01. Track Status
Our team of experts will ensure timely follow-up with the insurance company to track the status of the delayed and unsettled claims.
02. Identify Denial Issues
We will identify the denied claims, determine the reasons, and follow up with the insurance company to know whether additional information is needed to ensure a quick resolution to the issue.
03. Refile the Claim
Once we identify the denial issues, our next step involves refiling the corrected claim to the insurance company and initiating a follow-up action plan.
04. Resolution of Claim
Our final step includes monitoring the claim's status with the insurer and ensuring prompt follow-ups to achieve quick claims resolution.
Why Choose Us as Your Medical Accounts Receivable Solution Provider?
Leverage the expertise of healthcare accounts receivable management to access an array of benefits. Some of the key features include -
We initiate our healthcare AR management services only after signing the HIPAA agreement. This will ensure that all your patient-related data is safe and not divulged to any third party.
Our ISO/IEC certifications will also help you stay particular about the security of your valuable data.
Quick Resolution of Unsettled Claims
Outsourcing healthcare accounts receivables services with us will help you recover delayed payments quickly, further improving the health of your cash flow.
AMA and CMS guidelines
Our qualified AAPC-certified medical coders have expertise in both diagnostic coding and procedural coding. We also hold significant experience in handling CPT, HCPCS, and ICD coding. Hence, you can ensure all your coding services are based on AMA and CMS guidelines.
To offer the best out of our receivable solutions for healthcare providers, we leverage the required skills and expertise to quickly ramp up the service requirement as and when the client needs it.
We have access to the best infrastructure in terms of world-class office spaces, the latest tools and technologies, and uninterrupted network connections to offer the best solutions to our healthcare clients.
We focus on directing our healthcare receivable solutions toward delivering our services ahead of schedule while reducing the cost of follow-up processes.
Our Additional Services
Leverage our medical transcription services to get your medical documents transcribed by professional transcriptionists who hold significant expertise in the medical domain.
By employing our accounts receivable in healthcare, you get to utilize our comprehensive revenue cycle management services to achieve numerous benefits like HIPAA compliance, up to 60% cost savings, and stringent security policies.
Improve your medical facility's administrative efficiency, enhance patient medication adherence, and accelerate growth with our pharmacy business services.
Manage patient records, automate clinical workflows, and improve healthcare collaboration with our EMR services.
With our healthcare claims adjudication services, we extensively review and identify mistakes in claims before submission to speed up the settlement of claims.
Leverage our process of teleradiology services to achieve reduced turnaround time, lower costs, and accurate, customized reporting.
Client Success Stories
Healthcare Accounts Receivable Services
A leading client from the healthcare industry was looking for a reliable partner who could provide error-free accounts receivable services. We offered the services and helped them improve their cash flow.
AR Services and Full-Service Medical Billing
A top-performing emergency medical practice was looking for a service provider who could help in AR and full-service medical billing services. Our team provided services that satisfied our client and led them enjoy the perks of a healthy cash flow.
How Outsourcing Healthcare Accounts Receivable Services Can Benefit You?
Excellent! Beautiful! Thank you - I am very pleased and hope to do more business with you.CEO,
Medical Billing Company More Testimonials »
Accurate management of accounts receivables for healthcare includes handling several reports associated with collection analysis, insurance, write-offs, bad debts, reviews, and ratio analysis. It also includes analyzing insurance contracts to determine whether the healthcare providers are adequately reimbursed. Hence, relying on an medical account receivables management company can make or break your business
Our company has been a leading provider of medical accounts receivable services and offers a series of other healthcare BPO services to clients across the globe. Our team comprises extensively skilled and talented medical professionals with significant experience in the healthcare industry and can cater to any of your needs.
By outsourcing your accounts receivable in healthcare to us, you can -
- Reduce the costs of A/R follow-ups.
- Improve Cash flow.
- Get a precise analysis of billing operations.
- Identify the pain points that lead to delayed payments.
So, if you are looking for a reliable, cost-effective, and error-free accounts receivable service provider, you have come to the right place!
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