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Would you like fewer claim denials and a 97% collection rate?

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Are your accounts receivables greater than 90 days out?

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Increase collections and revenue with less stress and a stronger bottom line.

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A Growing Problems

Medical Accounts receivable management is an essential element to any successful practice. If accounts receivables are not up-to-date you’re losing revenue. If your accounts receivable process isn't where it should be an aggressive accounts receivable recovery program is needed. Are you are experiencing a growing patient load but it isn’t being reflected in your revenue? If so you are losing money it’s time for strict accounts receivable management procedures to be put in place.

 

How Revenue Is Lost

Most medical accounts receivable problems can be traced back to one or more of the following, insurance company payment policy changes, clearinghouse changes or staff turnover. As a result it’s not uncommon to find a provider with excessive amounts in A/R that have been outstanding for more than 90 days. Typically, in-house billers will work the easy money first (about 75% of what you bill out) and money that needs to be “chased” is put on hold. As a result this money is often forgotten and remains uncollected. Over time the volume of outstanding claims and the time required to research, correct and appeal them takes much longer than anticipated. Even if you dedicate a small number of medical billers to this task it would be nearly impossible to accomplish. The ultimate goal is to eliminate the outstanding account receivables and collect the money as quickly as possible. For this you need a team of professionals.

Medical Accounts Receivable Management Solutions

When it comes to medical accounts receivable collections WorkSmart MD is the industry leader. Our expert analysis team will identify claims within the filing limit of the carrier, verify all necessary parameters such as claims processing address and other billing rules then re-file the claim. If possible we will check the status of the claim to avoid duplicate claims. Also, when able we will transmit claims electronically to the carriers. Additionally, claims are forwarded through clearinghouses and aggressively followed up with the carrier for confirmation. After completing these steps and posting cash to the outstanding claims, patient statements are generated, reviewed for accuracy and mailed.

We realize you work hard for your money and we will do everything in our power to see that you collect all of it. Currently, our clients enjoy a collection rate of up to 97%. In fact, unlike other medical billing companies, we contractually guarantee a collection rate of at least 85%. The accounts receivable collection process is not always easy and not all medical billing companies are willing to take on the challenge. At WorkSmart MD we are up for the challenge and you will find that our efforts on your collections will demonstrate our commitment to you and the financial health of your practice.

For a no-obligation analysis Call us toll free at 877.242.8475