Tackling AR & Denials – Role of Billing Software
One of the primary reasons that contribute a great deal to the success of US medical billing companies is uncompromised denial and account receivable management delivered to their clients – the healthcare Providers. Tackling medical AR and denials has always been a herculean task. Only highly-robust and sophisticated medical billing software can accomplish it properly. Therefore, it is highly essential for US medical billing companies to have such high-end software incorporated in their billing practices. To learn what role the medical billing software plays in successful Account receivable management see below:
Proficient Reporting Capabilities: The most admirable quality of top-notch medical billing software is its expert report generating capabilities. These reports are highly useful for analyzing and identifying the cause for denials to avoid recurring mistakes. Also, they help in astute medical billing AR follow-up, which is a much-needed action to control AR inflation.
· ATB Report: One of the key reports that help in account receivable and denial management is ATB (Aged Trial Balance). It gives a detailed view of the outstanding amount that is due. Using this report, one can effectively follow-up on unpaid claims. This report also helps in tracking trends of Denials and in making ‘global’ actions that solve a particular denial. One key factor that medical billing staff should keep in mind is containing account receivables below 90 days.
· Aging AR Report: Medical billing performance can be measured using the DRO (Days in Receivables Outstanding) rate. It should be in the range of 40 to 45 days. Sometimes, it may exceed due to various reasons resulting in the aging of accounts receivables. The primary goal is to keep the aging AR from exceeding the 120-day bucket. The aging AR report comes in handy for better account receivable and denial management.
Features of Good Medical Billing Software: Choosing high-quality medical billing software is really very important for US medical billing companies. Good billing software will help in effortless note-making, so documenting multiple medical billing AR follow-up calls would not be a burden anymore. Certain high-end software may help in setting up reminders for follow-up calls scheduled for multiple claims. Organizing and displaying data by Payer or Receiver is one of the key features of good medical billing software. With such a great software applications, US medical billing companies can easily import payment information from ERA forms and also perform automated posting of payments.
Thus, a top-quality medical billing software application plays a vital role in better medical billing AR follow-up and denial management. e-Care is one of renowned offshore medical billing companies, which will help you incorporate the best medical claims processing and account receivable management practices irrespective of the billing software. It offers unsurpassed healthcare outsourcing services in healthcare billing for superior account receivable management.
About e-Care India:
e-Care India is one of the pioneering medical billing companies in India that promises the above mentioned benefits with total customer satisfaction. With 14 years of experience in the industry, e-Care’s 3 medical claims processing delivery centers have been providing end-to-end healthcare outsourcing services seamlessly to its clients. To know more about e-Care and its services, log on to www.ecareindia.com.
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