Revenue Cycle Management Account Receivables Follow Up
Research shows that practices only collect 12% of their accounts receivable outstanding balances at the time of service. Some practices have no idea how old their oldest AR is, but the reality is, it can run into 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 account receivables at an acceptable level is paramount for your continued success, regardless of the size of your practice. Once claims begin to exceed 30-45 days of non-payment, you run the risk of reducing cash flow as well as being denied payments.
Are you struggling to effectively collect on patient balances? Billed Right’s experienced AR team can help clean up your outstanding balances and get your cash flowing again! By outsourcing your revenue cycle management, which includes accounts receivable collection, you can save yourself a lot of time, money, and stress.
How do we do it?
- We initially do a baseline assessment of where your AR stands.
- We run necessary reports of those claims that require action to be taken and categorize them.
- Each Insurance company has a payment TAT that is followed and monitored closely to ensure 100% timely reimbursement and monitoring of cash flow.
- Our AR Rescue Team can work on your backlog of A/R claims as an initial phase of AR cleanup!
- We add all follow-up notes on claims in your software to allow for full transparency of our work.
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 using 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 and revenue cycle management!
What clients say
Account Managers are always readily available to help me. I appreciate their efforts daily! Our AM is a true gem and gift to any client account she manages. Her knowledge and suggestions aid me and my clinic in many ways. I would never have been able to execute a few items without her help. I was not in my current role before they chose to use Billed Right, however, I do see reports that show substantial increases in Revenue for my company. I appreciate the transparency of reporting, coding, and claims with the team and within the system. I would highly recommend Billed Right to others. In fact, at the most recent Meditab conference, Billed Right’s contact information was given freely with praise to several small business owners in need of financial assistance.
Practice Administrator of Urgent Care, TN
Billed Right has depth that similar service organizations do not. There is not a one or two-person team that handles everything. It is an organization that as a team understands our account. We have senior leadership, on the ground leadership and day to day team members that know our account. That is not easy to replace and certainly, at our size, not something we could bring internally without a significant commitment to infrastructure. While we cannot speak to how they may align with a specific set of needs…they are a professional organization with solid tools. Ultimately you will choose an outside billing partner for the simple reason of increasing collections. This will happen with Billed Right…but to us…as much as increasing our cash flow is their team of professionals. I like them, respect the contribution they make to our company and openly offer my personal recommendation.
CEO, Pain Management, CA
I have been associated with Billed Right for the past two years since I started my practice. Billed Right have been incredibly helpful in assisting my practice with initial credentialing, providing prompt responses to all my requests and excellent service to address my concerns. I am very satisfied with their timely insurance billing, collections, low AR, and patient accounts management. My Account Manager meets with me regularly to review and discuss management reports and address my questions in a professional and promptly manner. I am very satisfied and could not ask for better service. For these reasons I highly recommend Billed Right to anyone looking for a reliable practice management service.
Psychiatry Provider, FL
Billed Right is very knowledgeable in every aspect of business. When our Dr. First acquired the practice, it was a huge mess because one provider was leaving, and one was coming in but Billed Right stuck in there with patience and loyalty. Account Managers are top notch when it comes to every aspect of the business and make sure that you are comfortable in what they teach you. Staff members are very competent and have patience of saints to put up with credentialing and enrollment processes. Staff are polite and know what they are doing and go out of their way to help in every situation. I want to thank each one of the teams. Patient call rep is awesome and is also top notch in the field.