Our Accounts Receivable (AR) procedure at Enfinity Medical Billing guarantees timely reimbursement, enhances collection rates, and accelerates invoice processing all of which considerably increase your revenue. We carefully review insurance agreements to ensure that medical professionals are properly paid. A robust insurance model enables healthcare providers to swiftly recover overdue payments from insurance carriers. Our Accounts Receivable services are integral to this process, assisting healthcare providers in efficiently managing their practices and ensuring that due payments are reimbursed promptly. Managing investments while ensuring timely payments from patients and insurance companies, submitting accurate forms, and maintaining effective systems can be challenging. This is why partnering with an hospital accounts receivable services company is ideal for busy hospitals, clinics, and healthcare offices. In the healthcare industry, optimizing cash flow through quicker collection times and related expenses is the main objective of AR management. Find out more about our entire menu of Services.
Why Is AR Follow Up Essential in Medical Billing for Healthcare Services?
Medical Accounts Receivable Services
Our AR follow-up team is responsible for investigating denied claims and reopening them to secure maximum payments from insurance companies. The days of managing medical billing AR and Revenue Cycle Management in-house are over. Today, specialized billing professionals are needed to handle AR follow-ups.
In addition to AR follow-up, other crucial operations such as charge entry, benefits verification, and payment posting must be carried out. During these operations, a medical billing professional assigns the correct procedure and diagnostic codes based on the treatment plan. Claims submitted incorrectly or not per insurance guidelines are likely to be rejected. Therefore, having a specialized AR team to follow up with insurance companies to resolve denied claims is essential. For a deeper understanding, explore our blog on the importance of AR follow-up in medical billing.
Why should you outsource your accounts receivable in healthcare services?
Many medical providers find that while their practice expenses grow monthly, their cash flow does not keep pace. Without precise and consistent AR follow up, providers often face excessive amounts in medical accounts recieveable for healthcare services, particularly those outstanding for more than 180 days.
The volume of unpaid claims and the time required to research, correct, appeal, and re-file these claims often exceed expectations. A small staff dedicated to this task may not achieve the goal of significantly reducing or eliminating outstanding AR in medical billing and collecting the maximum possible in a short time. To learn more about the advantages of outsourcing, check out this external resource on outsourcing benefits.
Why Choose Enfinity Medical Billing to Outsource Accounts Receivable Services?
Enfinity Medical Billing’s AR program addresses the common delays in collection efforts faced by individual providers. We assign a dedicated team to resolve unpaid claims as quickly as possible. Our team comprises experienced and well trained individuals in medical billing, coding, and collections.
To maximize cash flows and streamline collection operations, companies need an efficient and smooth Order to Cash cycle. Enfinity Medical Billing transforms end to end AR management by optimizing cash flows, reducing past due receivables, and identifying revenue leakages.
Our employees work closely with insurance companies to manage collection activities effectively while maintaining strong client relationships. Our AR solutions are comprehensive yet flexible, allowing clients to choose the full suite of services or start with a subset of processes, business units, or locations. We ensure our customers face no issues in receiving payments for their services. Discover why our clients trust us by visiting our testimonials page.
Accounts Receivables Services We Offer
Enfinity Medical Billing provides to hospitals accounts recievables services, emergency rooms, urgent cares, and clinics, including:
- Preparing and sending bills to insurance companies with client consent.
- Recording and accounting for revenue.
- Preparing and submitting periodic declarations.
- Managing cash received on client accounts and resolving short payment issues.
- Issuing client approved credit memos and refund checks.
- Maintaining an up to date subsidiary receivables ledger.
- Implementing agreed upon process changes.
- Applying received funds to customer accounts.
- Monitoring and following up on AR collections.
- Preparing AR reports based on age, business sector, customer, and other factors.
- Generating invoices using documentation such as service/product delivery confirmations and sale order copies.
- Reducing operating costs and complexities.
- Mobilizing resources for complex projects to ensure faster deliveries.
- Employing quality control procedures and structured billing processes for error free billing.
- View our detailed service offerings to understand how we can help your practice.
Contact Us for Medical Accounts Receivable Services
Ready to optimize your revenue cycle and enhance your practice’s financial health? Contact Enfinity Medical Billing today to learn more about our medical accounts receivable services. Our team of experts is here to help you achieve greater financial efficiency and focus on what you do best providing exceptional medical healthcare.
