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What to Expect from a Medical Billing AR Management Company

By Outsource Strategies International Subscribe to RSS | May 15th 2012 | Views:

If you are busy medical practitioner, managing your billing tasks along with patient care can be a tedious task. Outsourcing billing and AR management can lessen your workload and optimize your revenue. With the right medical billing AR company, you can expect efficient and timely claim submission and receivables follow up to improve your bottom line.

Systematic Medical Billing and AR Management Services

A reliable medical billing company will work as an extension to your practice. It will have the infrastructure, technology and resources to help streamline your revenue management. Partnering with the right company ensures:

•Services of a professional team: The staff would comprise medical billing specialists, posting teams, AAPC (American Association of Professional Coders) certified coders, and AR follow-up teams, all with extensive experience. They can even work on your own billing software. They are experts in the latest technologies and medical billing software, such as Medisoft, Practice Admin, AdvantX, eClinicalWorks, Advanced MD NextGen, IDX, Lytec, Eclipse, and so on.

•Prompt and efficient billing procedures: The various stages in the billing process are handled systematically. Patient demographic information is collected and entered into electronic systems. Verification is carried out to check out patient eligibility. The billing team contacts the insurance companies to check out all the details of the patient’s insurance plan. Expert coders assign the right diagnosis and treatment codes to prevent claim denials and rejections that can occur to coding errors. All patient information is double-checked before claims are submitted. Other billing services include review of all charges for accuracy to ensure a continuous flow of revenue, posting of ERA and paper EOB payments on a daily basis, and review of EOBs to ensure maximum reimbursement was obtained.

•Accounts Receivable Management: AR follow-up is one of the most important services that medical billing companies provide. It involves following up and appealing unpaid claims with insurance companies. EOBs and claims are evaluated, arranged in order of priority and followed up on without delay. Improper denials are disputed. A reliable service provider would never write off a claim without appealing it first.

•Timely Reports: A medical billing company would provide all types of reports to keep the client updated on progress. This includes regular QA checking with readily available reports, customized monthly reports every month, and quarterly coding updates.

How to Find an Efficient Medical Billing AR Management Company

It is obvious that you have to find the right medical billing AR services partner to secure the financial position of your practice. Browse the web and compare service providers. Choose a company that can work as an extension to your practice and provide solutions in customized turnaround time. Established companies even offer a free trial of their services so that you can evaluate their offerings before you sign up. It would be ideal if you find a company that does not insist on a long term contract.

Outsource Strategies International - About Author:
Outsource Strategies International (OSI), one of the leading medical billing companies in the Tulsa, Oklahoma area, is offering quality physician billing services to prevent backlog and heavy financial losses in medical practices

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