- Eligibility Authorization and Verification
- Patient Information Entry
- Charge Entry
- Claim Submission
- Payment Posting
- Accounts Receivable
- Denial Management
As evident Accounts Receivable appears as one of the penultimate steps in the revenue cycle management. The particular client’s service profile when owes an outstanding amount from the payer becomes Accounts Receivable in the billing parlance. This amount has to be followed up by the practice management for recovery, when denied posted to Denial Management. The steps followed by Sunknowledge for Accounts Receivable Management are as follows.
- Accounts Receivable Analysis: 14% of all claims as submitted to the insurance company are denied and have to be re-submitted, appealed or written off. 50% of the denied claims are never re-filed. 50 to 70% of the denied claims have a higher recovery chance.
- Follow Up with the Payer: Regular follow up of the Accounts Receivable by the practice management with the payer company is a must to ensure its recovery.
- Closure of the claim: Once the outstanding money is recovered the claim is closed and updated in the provider’s system. If not approved the account is transferred to denial management procedure.
Sunknowledge offers Accounts Receivable service at 2% of the total collections, which makes it efficient yet competitively priced. Visit us on sunknowledge.com to know more about our services and profile management with pout clients.Top Searches - Trending Searches - New Articles - Top Articles - Trending Articles - Featured Articles - Top Members
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