Accounts Receivables process ensures that your business receive their payments within a particular
time frame, enhance their collection rates, and process invoices more quickly, contributing to
their income. It also includes an examination of insurance contracts to ensure that healthcare
providers are adequately reimbursed.
A successful insurance model enables healthcare companies to and quickly recover past-due
payments from insurance carriers. That is where accounts receivable (A/R) follow-ups come in
medical billing. It assists healthcare service providers in running their practices effectively
and successfully while ensuring that the owing cash is reimbursed as soon as possible.
Sometimes it can be hard to focus on your investment and make sure you receive money from
patients and insurance companies, and you submit the correct forms, and your system works as
appropriate. That is why an accounts receivable services company is the best option for busy
schedule hospitals, clinics, and healthcare offices. The principal purpose of accounts
receivable management in healthcare is to maximize cash flow into the medical business by
reducing the collection timeframe and associated expenditures.
The accounts receivable follow-up team of healthcare team is in charge of investigating denied claims
and reopening them to get the maximum payment from insurance companies. Medical billing accounts
receivable and Revenue Cycle Management handled in-house are a thing of the past. Billing
professionals with specific skill sets are now required to handle A/R follow-ups.
In addition to A/R follow-up, various other critical operations such as charge entry, benefits
verification, and payment posting, must be accomplished. A medical billing professional establishes
the correct procedure code and diagnostic code depending on the treatment plan during these
operations.
There is a potential that the insurance company will refuse claims if they are not submitted
according to the insurance guidelines; therefore, having a specialized A/R staff that can follow up
with the insurance firm to address your rejected claims is critical.
Why Outsource Accounts Receivable Services
Today, many medical providers find their medical practice growing in their monthly expenses but are
not attaining the same progress in their reoccurring cash flow. Unless exact and regular active
accounts receivable follow up on the current billings is started, it is common to find a provider
with excessive amounts in medical accounts receivable that are greater than 180 days outstanding.
Usually the volume of unpaid claims and the time it takes to research, correct, appeal, and re-file
the claims will take much longer than estimated. A limited number of staff dedicated to this task
will not be able to accomplish the goal, which is to extensively reduce/eliminate the outstanding
accounts receivable and collect as much money as possible in a short period of time.
Why Choose ASA Medical Billing to Outsource Accounts Receivable Services
The medical accounts receivable program offered by ASA overcomes the problems that basically delay
the collection efforts by the individual providers. ASA follows these accounts by assigning a full
team of individuals, That are dedicated to resolve the unpaid claims in the minimum time possible.
We utilize experienced, well-trained individuals in the medical billing process as our collectors.
Most of these employees have years of experience in collections.
Companies must have an efficient and smooth Order-to-Cash cycle to maximize their cash flows and
collection operations. ASA Medical Billing transforms end-to-end accounts receivable management by
optimizing cash flows, lowering past-due receivables, and assisting in identifying revenue Loss
and refilling gaps.
Our employees collaborate closely with insurance companies to manage collection activities
effectively while maintaining client relationships. Our Accounts Receivable Solutions are
comprehensive while being entirely adaptable, allowing clients to select the entire bouquet of
services or begin a new assignment with a subset of processes, business units, or locations. In
addition, we make sure that our customers do not face any issues in receiving the payments for their
services.
Accounts Receivable Services We Offer
ASA Medical Billing provides the following accounts receivable services to hospitals, emergency
rooms, urgent cares, and Clinics.
After receiving client consent, we prepare bills and send them to the insurance companies.
Record and account for revenue.
Preparation and submission of periodic declarations.
Cash received on client accounts and short country resolution.
Customer-approved credit memos and refund cheques are issued.
Keep the subsidiary receivables ledger up to date.
Implement process changes that have been agreed upon by the customer.
Applying received funds to customer accounts and resolving short-payment issues.
Monitoring and following up on accounts receivable collection.
Significant reduction in operating costs and complexities.
Contact Us for Medical Accounts Receivable Services
Contact ASA Medical Billing today at +1201-770-1103 for your
consultation. There are multiple advantages to allowing us to become a part of your team. We will
help you increase your cash flow while also helping you to streamline your work. Our
team is more than just a billing company. Contact us to learn more about how we can help you.
