How To Reduce AR Days For Cardiology Billing?

1

How to reduce AR days for Cardiology
Billing?
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2
How to reduce AR days for Cardiology Billing?
Outstanding Accounts Receivable (AR) in
healthcare are one of the most pressing issues
confronting the practices. In fact, healthcare
providers are frequently looking for the best
solutions to reduce their receivables for more
than 30 days, as well as ways to prevent them
from happening in the first place. Accounts
receivable (AR) that is more than 90 days old is
a key industry metric for determining the health
of your cardio practice. According to healthcare
data, AR over 90 days is in the average 15-20
range. If you have a greater percentage of AR
that is more than 90 days outstanding, you
obviously have a severe cardiology billing
problem on your hands. Lesser the number of days
in A/R means greater efficiency and faster
payments. Thats why the majority of  
https//www.247medicalbillingservices.com
1 888-502-0537
3
How to reduce AR days for Cardiology Billing?

• Reasons for Increased AR Days
• Delays in filing claims
• Ineffective eligibility determination
• Enhanced claim rejections
• Increased denials and a clumsy appeals process
• Inaccurate coding
• Errors in data entry
• Delays in credentialing
• Inadequate posting procedure
• As you can see, the majority of these issues can
  be easily addressed 

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1 888-502-0537
4
How to reduce AR days for Cardiology Billing?
Focus on Front-End By separating administrative
work from your cardiology settings, you can
concentrate on your front end. Collect at the
Service Time You can also follow the policy of
insisting each patient to pay their co-pay before
leaving your place. Accuracy is The Key The key
to quality cardiology billing and coding is
accuracy. Accurate documentation of Medical
Reports, correct usage of Codes, accuracy in Demo
entry, Charge Entry, and Payment Posting are
critical for the overall quality of Revenue Cycle
Management (RCM).  Tracking and Analysing A
streamlined and systematic process can help you
to reduce the likelihood of denials. However, a
monthly tracking system will help you gain better
control over paid vs. low-paid and denied claims
and aid in taking immediate and necessary
reimbursement steps.  
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How to reduce AR days for Cardiology Billing?
Management of Denials A timely and efficient
Denial Management Process ensures that collection
opportunities are maximized. Because claims with
higher AR days have a lower chance of being paid,
identifying claim denials and working towards
appeal and resubmission within the timely
filing/appeal limit (TFL) should be part of
revenue cycle management. Follow-up on Accounts
Receivable It is critical to follow up on
resubmitted claims on a regular basis in order to
get them paid and revenue collected. When it
comes to processing new claims, any payor
prioritizes denials and appeals over denials and
appeals.
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1 888-502-0537
6
How to reduce AR days for Cardiology Billing?
Streamlined and Contemporary Process Undoubtedly,
cardiology billing and coding guidelines and
regulations are constantly changing. Such changes
make it necessary for every cardiology billing
company to keep their process current by updating
their policies, protocols, work process, and
training their staff at any time to meet the
current demand. Keeping atop is required at all
times to ensure that you do not encounter denials
for any unknown reason.
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1 888-502-0537
7
How to reduce AR days for Cardiology Billing?

• Conclusion
• Reducing accounts receivable demands a follow-up
  of a systematic approach to cardiology billing
  for your practice. But most of the providers are
  preoccupied with patient care and cannot devote
  much time to improving their cardiology billing
  and collections.
• Outsourcing may be the best way to improve your
  Accounts Receivable. A cardiology billing company
  like 24/7 Medical Billing Services is a need of
  an hour that can handle the RCM process
  efficiently and effectively. 24/7 Medical Billing
  Services is an experienced billing and coding
  company that has the expertise and connections
  with the payor to expedite your AR and Denial
  Management process.

https//www.247medicalbillingservices.com
1 888-502-0537
8
How to reduce AR days for Cardiology Billing?
About 24/7 Medical Billing Services 24/7
Medical Billing Services is the nations leading
medical billing service provider catering
services to more than 43 specialties across the
entire 50 states. You can rely on us for
end-to-end revenue cycle management. We guarantee
up to 10-20 increase in the revenue with cost
reduction of your practice for up to
50.  Media Contact Hari Sudan,  24/7 Medical
Billing Services, 16192 Coastal Hwy, Lewes, DE
19958 Tel [phone] Email -
info_at_247medicalbillingservices.com
https//www.247medicalbillingservices.com
1 888-502-0537