Managing patient accounts receivable and denial management is cumbersome and time-consuming but it is very critical for healthcare organizations and oftentimes has no specific process in place. This leads to denials and a longer time to collect the medical receivables. Healthcare providers are less likely to receive money the longer an AR is unpaid, which is a bigger issue to address.
Accounts Receivable refers to the money that is due to the medical providers for the services that they have provided to the patients. Invoices generated in the medical billing process are sent to the payers, either the insurance companies or the patients, for payment.
The pursuit of accounts receivable reimbursement is something that healthcare professionals must monitor consistently, and this is where Mayntra Healthcare comes into the picture.
The major objective of accounts receivable management in the healthcare industry is to maximize cash flow by reducing the time it takes for payments to be collected and the associated costs.
And at Mayntra Healthcare, we make sure to meet the priorities.
Mayntra Healthcare has a dedicated team for accounts receivable and denial management with expertise in solving AR problems and Medical coding.
Additionally, we assist our clients in streamlining organizational processes and enhancing AR by bringing down healthcare costs.
Our team is skilled at meticulously examining every refusal and spotting pattern for a two-touch resolution. They track AR every month and separate it into different age buckets. They ensure to identify of potentially problematic trends early and identify any unpaid reimbursements that would be simple to solve.
With our data analysis skills, we also investigate the causes of denials and the remaining balance on the patient's account. We ensure that we have a thorough understanding of the denial reasons and rejections before taking the necessary steps to gather missing information or documentation and resubmit it within the required timelines.
Our experts have dealt with all commercial payers, as well as Medicare, Medicaid, TPA, workers' compensation, the CO-PAY assistance program, and all other types of payers. Denial management improves revenue collection, decreases aging revenue, and lowers costs by saving time.
AR Calling:
Call the payer or use the IVR/Web Portal to review the claim allocation and status.
Ask a series of pertinent questions based on the claim's issue and keep track of the responses.
Prepare call notes, and initiate or carry out corrective actions by sending required documents to Payers.
Record the actions and make notes on the revenue cycle platform for the customer.
