To ensure maximum reimbursement, medical billing AR has to be efficiently managed.

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Medical billing AR: A general overview
Accounts Receivable (AR) are the medical insurance claims that are unpaid
by insurance companies or patients. Accounts Receivable is one of the most
significant assets of a healthcare practice. Medical billing AR services are
designed to efficiently resolve issues with unpaid claims in healthcare
facilities by maximizing their reimbursement.
Overview of Medical Billing AR Services
The aim of Accounts
Receivables management is to
recover the funds payable to
the healthcare provider as fast
as possible. The problems
associated with AR include
denials, wrong information,
improper billing practices,
and erroneous medical codes.
Medical claims could be denied because coverage is terminated, the provider
ID is missing or invalid, diagnosis code is invalid, modifiers are missing or
invalid, and so on. Similarly, if billing practices do not follow federal norms,
they are deemed improper and lead to claim denial. Insurers also refuse to
pay when the wrong medical codes are given for the services provided.
One of the first steps in AR management is the appropriate analysis of
denied claims. Regular follow-up with insurance companies and patients for
outstanding claims and dues are also an integral part of the procedure. The
Medical Billing AR

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most basic assessment of medical billing AR requires information on
monthly charges, monthly receipts, and total A/R at the end of the month.
As AR management is a specialized procedure requiring a lot of attention to
detail, the best option for healthcare practices is to outsource the task. A
professional medical billing company would have AR management
specialists to report and follow up unpaid claims
AR management services include
• Insurance follow-up: Most healthcare providers and medical billing
companies face revenue losses due to the lack of follow-up on
outstanding claims with the insurance companies. AR management
companies provide follow up services to ensure timely payment of
claims. Their denial management process would include follow-up to
obtain the current status of the claims, status of appeals and reasons
for claim denial. A tracking system is established to provide reports
on claim denials. This helps healthcare practices to take measure to
prevent problems from recurring.
To provide professional claim follow-up services, accounts receivable
management firms have a dedicated follow-up team that analyzes the
unpaid and underpaid claims. They keep in touch with insurance firms
by phone and e-mail to ensure that claims are settled quickly. They
negotiate with the insurers and dispute unjustly denied payments by
proving medical necessity.
• Appeals for denied claims: Appeal letters are prepared for claims that
are denied and need to be appealed. Care is taken to see that appeal
letters are accompanied by necessary supporting documents.
Medical Billing AR

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• Follow up with patients: Claims are often denied because of missing
patient data. So medical accounts receivable management also
involves follow up with patients. Calls are made to patients to obtain
missing patient information, insurance information and also discuss
outstanding patient dues. Patients’ accounts are continuously tracked
and followed up till the cash is received. Procedures include sending
letters, statements, notices, and making phone calls to expedite
collections.
• Credit balance audits: During collection retrieval, an audit of all the
accounts is carried out to settle unidentified and duplicate payments.
• Clean-up of old accounts receivable
It’s very important to locate a professional and experienced medical billing
company for efficient medical billing AR management. The right service
provider can help resolve all the issues involved to improve the bottom line
of your medical practice.
MOS Outsource strategies International
8596 E. 101st Street, Suite H
Contact Details
Tulsa, OK 74133
Phone: (800) 670 2809
Article Source: http://www.articleshub.org/article/213433/Medical-billing-AR--A-
general-overview.html
Medical Billing AR