How can you improve your AR collection? - PowerPoint PPT Presentation

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How can you improve your AR collection?

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Though your practice is small or big, you likely to know that cash flow management are an essential for your practice’s long-term survival. You may not realize that improperly managed AR (Account Receivable) is one of the most common causes of less collection. – PowerPoint PPT presentation

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Title: How can you improve your AR collection?


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  • How can you improve your AR collection?

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How can you improve your AR collection?
Though your practice is small or big, you likely
to know that cash flow management are an
essential for your practices long-term survival.
You may not realize that improperly managed AR
(Account Receivable) is one of the most common
causes of less collection. Many small practices
struggle to collect payments from clients, while
if you calculate there is a shocking percentage
of practices have bills that are more than 90
days past due. Does your current billing service
company proactively work with you and your team?
Do they understand your business and then give
you the resources needed in order to keep your AR
moving and get collected? Many billing service
companies are smart for controlling their own
cost after landing new clients, focusing on the
easy billing in order to keep their profit margin
high. Because of this many healthcare providers
are losing their money, and they have no idea
why, how, or how much they are losing. Medisys
Medical Billing Company has created to workflows
to overcome these challenges and process should
work seamless and excellent. Timely claims
submission to the correct insurance company is
the key to get success. Also, this process
involves verification that the claim was received
and is being processes, then it also involves
confirmation from the insurance company that the
claim is being paid. There are numerous
opportunities where claim could be diverted to
different streams such as denials
Medical Billing Services in Oregon
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How can you improve your AR collection?
The medical billing service companies should work
in a right and proactive manner to know the
source of each denial and delays in payment. The
information and causes needs to be continually
share with other areas of the business so that
the root causes can be fixed. The more processes
issues you have in your operations, the more
chances to get denials in your AR, and the higher
your over 90 days AR becomes. This means more
delays instead of payments, so you can end up
with lower paying AR and more billing resources
required to work it all. Many claims get paid
timely and it requires some manual interaction
with latest technology. This means billing
services make most of their revenue with very
little cost. So most of medical billing companies
simply cut the cost out and skip AR work. With
vague reporting, they have little accountability
for actual results. Generally doing that extra
work on denials is actually an incremental
financial loss for the billing company. At
Medisys, our clients previous billing service
companies left between 20-50 of the potential
revenue on the table. As for the claims that
dont get paid, the clients almost never really
know whats missing. The aging report of AR is
only occasionally worked, and the source of the
issues is rarely worked. Healthcare providers
deserve more reimbursement so Medisys medical
billing company is formed with aim to collect
more revenue for physicians. We have an
experienced billing team, and we work closely
with our clients to make sure 100 of their bills
get paid appropriately and timely. Connect with
our Medical Billing Manager to boost your
collections.
Medical Billing Services in Oregon
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How can you improve your AR collection?
About Medisys We are a group of medical billing
experts who offer comprehensive billing and
coding services to doctors, physicians
hospitals. We provide end to end billing and
coding solutions. Medisys Data Solutions RCM
solutions ensures that the providers recover
every they are entitled to. Our vision for the
providers is You Cure. We ecure.
Medical Billing Services in Oregon
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