Improve Case Flow by Reducing Your Medical Billing Accounts Receivable & Bad Debts
Insurance & Patients accounts receivable management and bad debts are a very common problem with all types of healthcare organizations. This causes a reduction in cash flow and loss of revenue unless it is handled in a timely and methodical manner. Healthcare organization usually struggle to handle their bad debts and accounts receivables as they understaffed and have unqualified medical billers on their payroll who are unable to navigate the increasing complex nature of the healthcare industry.
At Guhilot, we have a large pool of medical billing AR executives and medical billers with over 15 years of healthcare industry experience that help identify and mitigate all causes of revenue loss. Over the years have developed tools and processes that have been developed after lot of practical insights to hand medical billing insurance accounts receivables and medical billing bad debts. These tools and processes have been able to help our customers recover ever older than 2 years of bad debts that other medical billing companies have given up on. We do all this with complete transparency through our custom mobile apps and easy to understand reports clearly showing the progress.
What Kind of Insurance Accounts Receivable and Bad Debts Do We Handle?
Medical Billing Accounts Receivable
Insurance companies reject/deny claims for various reasons. Sometimes they just do not respond to the claims submitted. There could be various reasons for claims are not acknowledged like aged billing, clearing house rejections, incorrect primary/secondary/tertiary insurance billing, incorrect out-of-pocket maximum etc. Which means that we must PRO-ACTIVELY keep track of each claim submitted till it is acknowledged/paid. This is a very tedious process that requires monitory each claim on a regular basis and following up with regular phone calls/emails/faxes to ensure that each claim is acknowledged by the insurance company and is rightfully paid.
Patient Accounts Receivable Bad Debts
Patients must share responsibility for payment based on their insurance plans. That includes co-pay at the time of service and afterwards based on the treatment provided, insurance requirements at various points of service. We ensure the collection of payments from patients throughout the entire treatment process to keep you free of any bad debts. We keep proactively keep track of the patient's share of the treatment cost and follow-up with them through the treatment period. Our A/R calling experts are specially trained to handle the sensitive nature of the process to ensure your reputation is kept intact during the entire process.
Insurance Claims Denial Management
Our Medical Billing experts analyse each denied claim line-by-line to identify the reason for denial within 24hours of receiving them. Analyses of each claim include verifying insurances, medical code, their modifiers, amount billed, provider contract etc. After Identifying the problem, the claim is fixed and rebilled within 24hours with necessary changes and missing information. We keep track of each such re-billed claim till a proper decision is taken on them and payment is received.
How You Benefit
Submitting claims is one of the most critical aspects of medical billing and so we promise to respond to all your denials/rejections within 24 hours day 7 days a week. We have a dedicated team for all your accounts management to ensure they are responded to immediately within the shortest period of time.
With our proven processes and systems, we will be able to reduce the Accounts receivable to less than 45 days within the first month of engaging our services. This will help increase your cash flow and reduce your bad debts immediately.
We have very flexible short term and long-term engagement models to offer you complete freedom in using our services. In addition to the duration, our payment terms are also very flexible to enable you to be in complete control at all times.
We understand that outsourcing of Accounts Receivable is very critical for managing your cash flow. That is why we appoint a dedicated accounts manager who acts as a single point of contact for all your queries and communication. We pride ourselves to be considered as your extended team who are just a phone call away.
We understand that a few months are busier than others and which means we need to allocate larger teams sizes to ensure timely billing of claims. We have large resource pools available that enable us to manage any increase in your work volume without any delay or additional costs on short notice.
Medical coding is an ever-changing and specialized field that needs well trained and certified medical coders that keep updated with the latest requirements of the industry. If handled by in-experienced coders, it leads to Incorrect and irrelevant medical coding, which is the primary reason for rejection and large Accounts Receivable(A/R).