A/R Follow-Up
What is A/R Follow-Up
A/R follow-up, also known as accounts receivable follow-up, is a process in healthcare revenue cycle management that involves tracking and resolving outstanding claims or unpaid invoices. It focuses on managing the accounts receivable to ensure timely reimbursement for services provided by healthcare providers.
The A/R Follow-Up Process Typically Includes the Following Steps:
The A/R follow-up process aims to optimize revenue cycle performance by ensuring prompt payment, minimizing denials, and reducing the average accounts receivable days outstanding. It requires effective communication with insurance companies, thorough documentation, knowledge of payer policies, and expertise in resolving claim denials.
1. Claim Submission
After services are rendered, healthcare providers submit claims to insurance companies or third-party payers for reimbursement. This includes submitting the necessary documentation and coding information.
2. Claim Adjudication
Insurance companies review the claims and determine the eligibility of reimbursement based on various factors such as coverage policies, medical necessity, and coding accuracy. They may either approve the claim for payment, deny it, or request additional information.
3. Tracking and Monitoring
Once claims are submitted, the A/R follow-up process involves tracking and monitoring the status of each claim. This includes regularly checking for claim updates, payment processing, and denials.
4. Denial Management
In cases where claims are denied, the A/R follow-up process involves identifying the reasons for denial and taking necessary actions to appeal or correct the claim. This may involve providing additional documentation, clarifying coding errors, or addressing other issues that led to the denial.
5. Payment Posting and Reconciliation
When claims are approved, payments are received from the insurance companies or payers. The A/R follow-up process includes posting payments accurately to patient accounts and reconciling them against the expected reimbursement.
6. Collections and Resolving Outstanding Balances
If there are unpaid balances after insurance reimbursements, the A/R follow-up process involves sending patient statements, coordinating with patients for payment arrangements, and handling collections to recover the outstanding amounts.
Reduce Negative Impact on your Practice's Bottom Line
If your A/R days have increased by over 40 days and your staff is overwhelmed, struggling to keep up with A/R follow-up, it can have a negative impact on your practice’s bottom line. It may lead to reduced efficiency and missed opportunities to boost revenue. Failing to follow up on insurance claims can result in prolonged payment delays, leading to increased days in accounts receivable (A/R) and strained relationships between departments. Insurance companies have their own protocols and timelines, making insurance follow-up a challenging and time-consuming task.
We Have Team Specialized in Follow-Up Activities
With Better Medical Billing’s comprehensive solution, you can take control and improve payment accuracy through a systematic approach to follow-up. This is vital for enhancing revenue cycles and achieving faster reimbursement, enabling you to recoup your investments promptly.
Our expert billing team specializes in follow-up activities and works closely with you to aggressively pursue unpaid claims. We meticulously monitor Explanation of Benefits (EOBs) to ensure precise payment accuracy, and we make necessary adjustments to claims for optimal reimbursement.
The Best Insurance Follow-Up Solution
You need a reliable and efficient insurance follow-up solution that can swiftly identify issues, eliminate bottlenecks, and improve overall turnaround time. At Better Medical Billing, we have a team of proficient A/R experts who are dedicated to delivering top-notch A/R follow-up services. With us, you can have peace of mind knowing that your accounts receivables will be managed effectively. Our team diligently monitors each account, ensuring timely payments and promptly addressing any discrepancies that arise.
Together, we can streamline your A/R processes, enhance revenue generation, and ensure smoother operations within your practice’s revenue cycle management.
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