Old Accounts Receivable Collections

Old accounts receivable collections, often abbreviated as "Old A/R", can be roughly defined as accounts over 90 days old. These accounts are a problem for medical facilities due to the labor intensive aspect of keeping up this important part of good cash flow. It is often easier and more cost effective to emphasis accounts "under 90 days", and let these old accounts pile up; often sneaking up into a substantial amount of cash tied up in receivables. This is true for medical offices, hospitals, outpatient services, rehab facilities, long term care facilities, acute care facilities, etc. We can provide the needed accounts receivable collection services to any of these facilities.

We can provide this labor intensive manpower at substantially lower rates, allowing faster and more effective results. We will do the necessary research to be sure the amount of reimbursement is appropriate as well as the rate. With no upfront fees we can provide a comprehensive solution to this problem. We have a bunch of dedicated professionals in our team, who work with you providing excellent medical billing and collection services to clear all your problems.

Collections

One of the major problems in most medical facilities and offices is the time needed to follow-up with all accounts receivables, including old accounts receivable collections along with the day to day calls. We are well equipped for this, as our teams are trained as well as highly educated (many of our analysis teams are finance graduates if not MBAs). By putting more manpower on your account, we are able to provide more collection calls per claim/ per account/ per office. In addition, we provide a more comprehensive accounts receivable collection protocol while our experts are calling in on your claims.

Accounts Receivable: Analysis

Accounts receivable analysts are the key to any group. The claims are researched for completeness and accuracy and work orders are set up for the call center to make calls. A/R analysts are responsible for the cash collections and resolving all problems to enable the account to have a clean A/R during the medical billing process. They also research the claims denied by the carriers, rejections received from the clearing house, and low payment by the carriers. They then plan and implement the appropriate actions. Analyst reviews for global patterns and bulk problems, which can result in taking care of multiple accounts at the same time.

Calling

This is the hub of activity around which medical billing and collections operate. The caller calls insurance companies and verifies if the claim is with the carrier and the current status. Upon determining whether the account is being processed for payment or has been denied, the analyst then takes over. In case of payment he would compile a list of payment details or if denied, he gets the required pre-requisites and begins the necessary corrective action.

Compilation

All the details regarding the old accounts receivable collections are then compiled in Excel, for future use when similar problems occur in any other specialty. This information needs to be made available to anyone who needs to review past records to identify solutions to any particular present scenario.

Patient Collection