Practice Management Alert

If you aren't following up on denials, you're leaving money on the table.The economic downturn coupled with looming healthcare changes means that your practice -- and all others -- are under more pressure than ever to collect every penny you deserve. You can refine your accounts receivable (A/R) process quickly and easily to bring in the money without a lot of extra effort.A/R defined: "Accounts receivable (A/R) is the money that is owed to the practice," explains Elin Baklid-Kunz, MBA, CPC, CCS, a director of physician services in Daytona, Fla., during The Coding Institute's audioconference "Top A/R Tactics: Fight Back Against Lower Payments and Increased Government Scrutiny." Follow these four best practices to set your practice on an improved A/R track and avoid thousands in lost reimbursement.1. Monitor Each Claim You Send OutThe first step in perfecting your A/R process is to make sure someone in your practice is paying attention to [...]