Tighten up the turnaround time for patient payment and see the financial benefits to your practice. By Teresa D. Skipper, CPC, CHCA The number of days that claims are in accounts receivable (A/R) is climbing. Is it any wonder? Patients no longer have $500 yearly deductibles with 80/20 policies and low copays. Deductibles have increased ...
Follow these tips to keep your healthcare organization afloat. There are many reasons why hospitals and providers are unable to collect payment from payers. To help you cut down on outstanding claims and increase provider reimbursement, it’s a good idea to understand how accounts receivable (A/R) affects your bottom line, and apply good practices to ...
When claims are not getting paid in a timely manner, eliminate the holdup. Accounts receivable (A/R) is the bread and butter of an office. To support the livelihood of your practice, ask your employees to think about uncollected balances from a personal point of view. For instance, would they wait 120 days to receive reimbursement ...
Not collecting co pays, co-insurance, and/or deductibles: These amounts are the patient’s responsibility at the time of service. Filing claims and collecting co-pays promptly are keys to a profitable practice. Having an Improper Fee Schedule: Without current coding codes and optimal pricing for your services, you most likely are being underpaid for your services. Not ...
May 7th, 2015
 By Janice Jacobs, CPC, CPCO The average physician practice is very aware of steps that must be taken to ensure compliant, accurate claims submission, and there is always staff assigned to post payments and reconcile cash. However, the very important middle step of accounts receivable (AR) management is frequently overlooked. In a perfect world, submission ...