Is your practice facing a challenge with large volumes of old healthcare accounts receivables piled up? With patient care taking priority, healthcare organizations sometimes need help to spare on medical accounts receivable collections. This leads to organizations losing out on their claims because of insufficient healthcare accounts and receivable management. Patient insurance complexities, time-consuming follow-ups, and the ever-growing mountain of unpaid claims can significantly impact your practice's financial stability and obstruct a healthcare organization’s ability to deliver quality patient care.
With 24+ years of expertise in Healthcare BPO Services, Suma Soft offers a wide range of Medical Accounts Receivable services designed to streamline your collection process, reduce AR days, and maximize revenue. Our dedicated team of experienced professionals possesses a deep understanding of healthcare billing regulations. They follow up with patients and insurance companies on remittance advice, charge entry, appeal, explanation of benefits, etc, and are committed to ensuring efficient and compliant collections.
Our Medical Accounts Receivable Services reduce the AR process time by following up on outstanding claims regularly. Leveraging advanced and robust tools, our experienced, skilled & competent AR experts accurately examine, correct, appeal, and re-file the claims. The billing collection process is seamless with our medical billing services experts, making it easier for our accounts receivable follow-up services to pinpoint areas hindering revenue collection efforts. Our medical accounts receivable services deliver a multitude of benefits for your practice:
Improved Cash Flow
Our medical accounts receivable services ensure an efficient collection process that streamlines payments and minimizes delays, providing businesses with a steady inflow of revenue to support their financial needs.
Reduced AR Days
Our Revenue Cycle Management Services help collect outstanding balances swiftly, reducing AR pile-up and boosting the organization’s overall financial health.
Enhanced Patient Satisfaction
Our accounts receivable service teams aim to provide clear communication and flexible payment options that create a more positive experience for your patients.
Reduced Administrative Burden
Outsourcing medical accounts receivable services will take care of administrative tasks and take the burden off of in-house staff. Focus your resources on delivering quality care by delegating time-consuming AR tasks to our team of experts.
We follow a systematic approach to managing your accounts receivable, ensuring timely and accurate collections.
Payment Posting
Our medical accounts receivable service team efficiently processes patient payments and insurance remittances for accurate and timely crediting to your accounts.
Follow-Up
We monitor outstanding receivables and initiate timely follow-ups with patients and insurance companies to resolve issues and expedite payments.
Initiate Appeals
We carefully review the reason for any claim denial and appeal to fight for the reimbursement.
Patient Follow-Ups
Our medical accounts receivable service team persistently communicates with patients about outstanding balances, offering flexible payment solutions whenever possible.
Collection Strategies
We implement proven collection strategies designed to recover outstanding debts efficiently and legally.
Reporting and Analysis
Our medical accounts receivable services provide complete reports with valuable insights into your revenue performance, helping businesses identify trends and make informed decisions to optimize their collection process.
Our Medical Accounts Receivable Services review submitted claims, handle denials and discrepancies, and oversee the entire revenue cycle, ensuring smooth operations. Leveraging advanced technology and tools such as billing software, Electronic Health Record (EHR) systems, and Revenue Cycle Management (RCM) software to regularly track payment status and financial stability, we navigate complex healthcare revenue challenges with precision, efficiency, and reliability.
EOB Analysis
Our medical accounts receivable service team analyzes the explanation of benefits (EOBs) from insurance payers, identifying inconsistencies or errors that might delay or cause reimbursement to be lost.
Follow-ups
Our medical accounts receivable service team handles all aspects of follow-up communication with patients and insurance companies, ensuring timely resolution of any complications or delays in payment processing.
Payment Posting
Businesses get an accurate and efficient posting of all incoming payments with our precise and updated records of their financial standing.
Denial Management
Our medical accounts receivable services tackle claim denials by analyzing the reasons for denials and developing effective strategies to appeal and recover lost revenue.
Accounts Receivable Aging Analysis
Businesses get access to a detailed analysis of their AR aging report, highlighting overdue accounts and identifying areas for improvement in their collection efforts.
Patient Account Management
Our medical accounts receivable service team manages patient accounts, from initial billing to final payment, ensuring a smooth and efficient process.
Remittance Advice
We ensure accurate payment allocation and identify potential issues by reviewing and processing remittance advice from insurance payers.
Write-offs
Our medical accounts receivable services write off uncollectable debts while adhering to all regulatory requirements and guidelines.
Financial Reporting
We provide detailed financial reports that include your AR performance insights, enabling you to make data-driven decisions for optimizing collections.
Improved Cash Flow
Our streamlined Medical Account Receivable Service management processes improve payment collection and boost your cash flow.
Reduced Administrative Burden
Let your resources focus on patient care while our experienced team handles your AR tasks.
Expertise and Compliance
Our Medical Accounts Receivable Service experts have deep industry knowledge that enables us to handle your financial stability effectively, bringing improved business health to your practice.
Cost Efficiency
Our medical accounts receivable services provide businesses with cost-effective pricing options for follow-ups based on the services required. Optimize your operational costs by leveraging our efficient and cost-effective AR solutions.
Technology-Driven Solutions
Our advanced technology enables efficient AR management, reducing manual errors and improving accuracy.
Scalability and Flexibility
Our medical accounts receivable services are designed to adapt to your practice's growth and changing needs, ensuring ongoing support.
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