Research shows that practices only collect 12% of their accounts receivable outstanding balances at the time of service. Many practices struggle with aging AR, some not even aware of how old their oldest balances are, which can span several years. Even worse, some AR may have been written off because there wasn’t time for anyone to follow up with payers or even patients for outstanding balances.
Maintaining your healthcare accounts receivable at an acceptable level is paramount for your continued success, regardless of the size of your practice. Once claims surpass 30-45 days of non-payment, practices risk cash flow reduction and potential payment denials.
Are you struggling to effectively collect on patient balances? Billed Right’s experienced AR team can help clean up your outstanding patient balances and get your medical practice cash flow going again! By outsourcing your revenue cycle management, which includes AR collection and medical billing collections, you can save yourself a lot of time, money, and stress.
Our Expertise – How we do it?
As part of your revenue cycle management, account receivable follow-up starts after payer reimbursement’s expected time is due. We consistently follow up with payers on accounts receivables utilizing multi-channel communication methods like phone, email, and web tools to ensure you get your reimbursement in a timely manner, keeping your cash flowing.
Contact us today to learn more about how we can help you with your AR collections, revenue cycle optimization, and healthcare AR management!
