AR Management

AR Management

What Is Accounts Receivable/ AR Management?Accounts receivable/ AR management is a practice in which customer payment is obtained within a specific period. Organizations selling services and/or products use accounts receivable management for ensuring appropriate management and tracking of all steps in payment collection after customers place orders. It is a significant part of ensuring profitability and liquidity and evading bad debts.

 

SQUARE MD offers an efficient, strong AR management methodology to help practices and providers in the medical industry. Our team of experienced and skilled accounts receivable experts ensures the most effective management of accounts receivable to benefit your practice.

Denial Management

While allocating installments from ERAs/EOBs; every single conflict is settled, making a legitimate move using the ERAs/EOBs set of remark codes rules. It assists immensely in limiting the AR in the medical industry significantly. Our experienced and vigilant specialists work efficiently on your denial resolutions. It truly assists in outlining exceptional billing services.

Protection Investigation

Unattended claims are the key reason behind a large part of accounts receivable that an insurance company didn’t respond to. Our experienced representatives will deal with your insurance claims just after the beginning of your installment cycle. It allows us to identify the actual reason promptly for faster repayments of your pending claims. The accounts receivable procedure in the medical billing has to keep checking on receivables to make certain that they are under control. As a specialized medical billing company, we will make sure that your collections get a maximum increase.

Appeals Management

Insurance claims with less repayment, medical necessities, record details, and authorization denials are forwarded to the appeal division. The appeal division makes a perfect statement to make sure that there is no chance of payment denials by the insurance company. As the most trusted AR management company, we will help you ensure a greater financial flow.

Patients Declaration

A claim that allows exchanging balances towards the responsibilities of the payment after the insurance negotiations. Fast Billing Solutions allot the balances of the ledger correctly to patients, delivering declarations every month. If there is an unpaid balance, we will send a letter to request payment collections to the patient as needed.

Patient Calls

SQUARE MD will keep sending reminders about the remaining balances if the patient statement is unpaid after sending the payment collection letter. Our team will investigate all possibilities for the collection of conceivable repayments on behalf of our clients. We will do every possible effort to make it happen.

Medical Billing Accounting

Accounts receivable and payable in a healthcare office establish the foundation of medical billing accounting. With the application of this process, doctors get a pause from financial responsibilities. As a medical practitioner, your foremost responsibility is always with patients. Our objective is to connect you with patients. While helping you with healthcare charts, Fast Billing Solutions utilizes e-health records to request billing payments across patients, private payers, Medicare, and Medicare.

AR Management Steps

Medical billing AR managers must perform right after the beginning of the subscription. RCM consists of different steps and accounts receivable management is the most significant one.

Legal Side

  • Do not bill for equipment that is never utilized in the process(s)
  • Consider unperformed services
  • No under-coding or up-coding
  • Pay attention to unbundling charges

Contract Negotiation

  • Recognize payment terms
  • Claim filling rules
  • Reimbursement rates
  • Other provisions
  • Expiry and effective dates

Compliance

  • Running auditing and internal checks
  • Detecting offenses
  • Assigning the compliance officer
  • Establishing practice standards
  • Staging training sessions and workshops

Patient Rights

  • Solid hospital-patient relationship
  • Emergency services access
  • Know their healthcare plan
  • Consensus to continue with the process
  • Select practices on their own

Patient Access

  • The attentive front desk team
  • Easy to approach medical offices for complaints
  • Increase office resources
  • Adequate staff training
  • Patient demographic info entry

Charge Capture

  • Apt medical coding
  • Aptness in coding matters
  • Non-discriminatory services
  • Correct documentation is important for the collection

Patient Financial Services

  • Medical billing rules & regulations
  • Timely submission of claims
  • Follow-up after 7-10 days of submissions
  • Knowledge of the insurance company(s)

Health Info Management

  • Transmission of patient information following the HIPAA compliance
  • Medical necessity
  • Filing & retrieval
  • Management of medical records
  • Medical coding

If you ever find a need to hire the best AR management services for your practice, you can contact us by clicking here.