Accounts Receivable is a never-ending crisis with all Medical Practitioners and Multi-Specialty hospitals.
As a healthcare provider, you are focused on delivering the best care to your patients. Your staff too is busy coordinating with patients or executing other administrative duties/responsibilities. Who’s looking at the stealthily growing backlog - the rejected and denied claims?
When old Accounts Receivable begin to pile up, you’re concerned but not too much. However, neglect it long enough and it grows into that ugly-headed monster gouging at your cashflow. A surprising number of practitioners are not even aware of how much money they’re leaving on the table!
The older your claims get, the harder and costlier it becomes to collect them. Some practices have over a third of their AR in the “over 90 days aging bucket”. That’s money owed to the provider for services rendered months ago!
How to collect accounts receivable faster?
It’s vital to keep a close watch on your AR reports – not just on what you’re collecting but also which claims are 30, 60, 90, 120 or more days old. Timely intervention and follow-up can improve the collection of aging ARs considerably.
RCM recovered $30,000 for our
RCM recovered $30,000 for our
According to the Medical Group Management Association, the benchmark for 120 days old AR is 17.7% (for an average practice). You can do better than the average with the right guidance and assistance.
How we help
Our team includes professionals who have worked in the healthcare industry for 20+ years. We have experienced the challenges faced by healthcare practitioners in old AR recovery. Leveraging the right mix of technology and processes has helped us minimize AR write-offs for small and large practitioners, at a fraction of the cost charged by other providers.
Improved Cashflow
By reducing old AR write-offs, practitioners get more funds to invest in their practice – staff, equipment and training. And for that well-earned vacation too!
Timely & Accurate Resolution
Our technology solution enables bulk analysis of old AR in seconds. This allows us to detect and manage AR issues faster and more effectively.
Future Savings
Pattern detection technology helps us identify trends that lead to claim rejections and denials. This learning is incorporated into current processes to eliminate the causative factors.
HIPAA Compliant
Trained Staff
Transparent Pricing
Root Cause Analysis
Process Guidance
Customer Service
Industry Experience
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