Best Maneuvers to Manage Your Medical Practice Collections

Presented By,Adam DenySmith, BillingParadise

Streamlined automation• Streamlined automation of your

revenue cycle management (RCM) is a crucial mode to recoup your ARs.

Thwart potential denials• Thwart potential denials well before the claims

submission, so that your claims will be reimbursed right at the first time.

Intelligent engine

• You could install the feasible software in need at your practice for improving your denial prevention rates and maximize the collections.• Besides, business intelligence and analytics tools enable

you make better decisions, perk-up productivity and catch underpayments and curtail collection delays.

First-pass resolution rate • Improve the scrutiny of your medical bills through

software and expert support before submission to accomplish higher first-pass claim resolution rate. • This would drastically mitigate the workload of your

practice staff and enhance your claim acceptance and further collection rate.

Contract negotiation and management

• Many practices fail to verify the difference between actual payment and the payer’s contract value. • Automated reconciliation of these values aids increased

reimbursement and better budget forecasting.

AR Aging

• 30/60/90 days aging report model is becoming outmoded. • If Medicare is ready to pay you within 14 days and if you

follow the payment after 30 days, that’s a clear loss for you.• Thus, daily AR aging report and follow-up is very

essential for faster collections and improved productivity.

Workflow optimization• If there is a barricade in your collection process, the gap

between the time of service and the time of collection would be prolonged which culminates in loss.• To overcome this glitch, automated e-mails to the

management or superior authority and instantaneous remedial action can be yield better results.

ERA Accuracy

• Cross-examine the ERAs against payer contracts for the accuracy of payment details.

Special routing and tracking

• Payer-specific collection experts and queue-based collection assignments can be set in an organized manner to follow claims, denials and payments.

Need Free Consultation ?

• If you need practice specific consultation on AR management for your healthcare centre .

• Contact BillingParadise- AR Calling and Collections Management Expert.

Visit : www.BillingParadise.comMail : info@billingparadise.com