AR Follow Up

What Makes AR Follow-Up So Important In Medical RCM For Healthcare Services?

The healthcare team’s accounts receivable follow-up team is responsible for examining denied claims and reopening them in order to recover the most money from insurance companies. Medical RCM accounts receivable, and revenue cycle management is no longer managed in-house. A/R follow-ups are now handled by billing specialists with distinct skill sets.

Other key procedures, including charge entry, benefits verification, and payment posting, must be completed in addition to A/R follow-up. During these operations, a medical billing professional determines the correct procedure code and diagnosis code based on the treatment plan.

If claims are not submitted according to insurance requirements, the insurance company may deny them; therefore, having a specialized A/R team that can follow up with the insurance company to address your rejected claims is vital.

Why Should You Outsource Your Accounts Receivable Services?

Many medical RCM service providers are finding that their monthly expenses are increasing, but their recurring cash flow is not keeping pace. It is typical to locate a provider with excessive amounts in medical accounts receivable that are greater than 180 days outstanding unless exact and regular active accounts receivable follow-up on current RCM is performed.

The volume of unpaid claims, as well as the time it takes to research, correct, appeal, and re-file them, usually takes significantly longer than anticipated. The goal of reducing/eliminating outstanding accounts receivables and collecting as much money as possible in a short period of time will be impossible to achieve with only a small number of people dedicated to this work.

Why Should You Outsource Your Accounts Receivable Management Services To Revesolv?

Revesolv’s medical accounts receivable program eliminates the issues that cause individual providers’ collection efforts to be delayed. Revesolv keeps track of these accounts by dedicating a complete team of people to them. They are committed to resolving unpaid claims in the shortest amount of time possible. As collectors, we use competent, well-trained professionals in the medical billing process. The majority of these employees have years of medical coding and collections experience.

To maximize their cash flow and collection processes, businesses must have an effective and smooth Order-to-Cash cycle. Revesolv improves end-to-end accounts receivable management by maximizing cash flow, reducing past-due receivables, and assisting in the identification of revenue leakages and gap-filling.

Our employees work directly with insurance companies to properly manage collection activities while preserving client relationships. Our Account Receivable Solutions are comprehensive while also being completely adjustable, allowing clients to choose from a wide range of services or to start a new project with just a few processes, business units, or locations. Furthermore, we ensure that our customers have no problems receiving money for their services.

We Provide Receivables Management Services

Hospitals, emergency rooms, urgent care centers, and clinics all benefit from Revesolv’s accounts receivable services.

• We produce bills and send them to insurance companies after gaining customer authorization.
• Revenue should be recorded and accounted for.
• Periodic declarations are prepared and submitted.
• Client funds have been received, and the country has been resolved quickly.
• Credit memos and reimbursement checks are sent after customer approval.
• Maintain the subsidiary receivables ledger.
• Changes to the process that have been agreed upon by the customer should be implemented.
• Resolving short-payment concerns and applying collected monies to customer accounts.
• Accounts receivable collection is monitored and followed upon.
• Accounts receivable reports are generated by analyzing accounts receivable by age, industry, customer, and other characteristics.
• We may create invoices based on paperwork proof such as service/product delivery confirmations and sales order copies.
• Operating costs and difficulties are significantly reduced.
• Superior resource mobilization skills for complicated projects to ensure a speedier delivery.

To ensure error-free billing, use quality control procedures, organized billing processes, and appropriate account receivable services.