Payment Posting in Medical Billing
Payment posting is critical to the financial health of your practice. Medical billing payment posting doesn’t just mean posting payments but also payment adjustments as well as payment denials. Should you get behind on posting payments, or the posting is done incorrectly, it will reflect negatively in your account receivables.
Do you have AR that is 'inflated' due to unposted charges? Do you have piles of paper EOBs on your desk, simply unworked for months? Perhaps years? Payment posting in medical billing can be tedious but we can help you clean it up and get your AR up to date.
How do we do it?
- Insurance payments are posted to patient accounts from EOB’s into the client’s software systems with a turn-around time of between 24 to 48 hours.
- Whether you have electronic lockboxes or receive hundreds (or thousands) of EOB’s mailed weekly to your office, this information must all be posted to a patient’s account promptly or incorrect reconciliation will happen.
- Payments received can be either paper checks or EFT-electronic fund transfers
- Each day, payments received will be accessible via your practice management system and through scanned checks. Each line is posted at the end of the month, your monthly payment will be posted and reconciled.
- If you are receiving paper EOB’s, you simply scan them to a secure FTP site for us to work with. If you have electronic lockboxes, we can interface with them to get the information we need. Having these readily available in your practice management software allows us to make all information available to you on a real-time basis.
Billed Right’s goal, as your strategic partner, is to ensure you are successful. This means we ensure timely payment postings as part of our Revenue Cycle Management service.
Contact us today to learn how partnering with us can help your bottom line!
What clients say
Psychiatry Group, Ohio.
"I have been very happy with Billed Right and have seen a significant increase in collections since switching to them 8 months ago. They are professional, efficient, and respond to all my questions and concerns thoroughly and promptly. I highly recommend them and have referred them to my colleagues."
Internal Medicine Provider, Altamonte Springs, Florida
“As a practice entering commercial insurance for the first time, we briefly tried to manage our own billing before realizing that we really needed to bring in a professional. After interviewing several companies, we selected Billed Right who was committed to understanding our business model and become a true partner in our success. Over the past 18 months we have seen significant organizational growth and Billed Right has partnered with us to help facilitate that growth as they remain a key asset to our organization.“
Behavioral Health Provider, Connecticut
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.