Medical Billing AR Recovery
What is Legacy AR?
Legacy AR refers to outstanding balances that are older than the typical billing cycle. These require special attention because they can negatively impact your practice in several ways:
- Reduced Cash Flow: Uncollected funds hinder your ability to operate efficiently.
- Compliance Risks: Failing to follow billing standards can lead to penalties or audits.
- Patient Dissatisfaction: Unresolved bills can strain relationships and damage your reputation.
- Strained Client Relationships: Delays in resolving outstanding balances can lead to lost business opportunities.
Strategies to Tackle Legacy AR
Here are some key steps to address legacy AR effectively:
- Regular Audits: Regularly review billing records to identify errors, discrepancies, or ignored claims that contribute to legacy AR. Focus on aging reports to prioritize older accounts.
- Proactive Follow-Up: Following up on unpaid claims, denials, and underpayments promptly can significantly increase collection rates. Establish dedicated follow-up teams or use automated systems to streamline the process.
- Improved Documentation: Maintaining accurate and detailed records of services rendered is essential to avoid claim rejections and ensure timely reimbursements. Documenting medical necessity properly reduces billing errors and disputes. Consider implementing electronic health record (EHR) systems to improve documentation accuracy.
- Patient Engagement: Communicate clearly with patients about their financial obligations, including copays, deductibles, and out-of-pocket costs. Offer flexible payment plans, financial assistance programs, or incentives for timely payments to encourage faster resolution of outstanding balances.
Considering Outsourcing
If you need help managing AR, consider outsourcing to a medical billing and coding service. We leverage expertise and data analytics to identify problem areas and improve your revenue cycle management and recover your AR. MedPro Services can also integrate with your EHR system to capture charges accurately, ensure code compliance, and handle denied claim resubmissions. Call MedPro Today!
Invest in a Medical Billing Team You Can Trust
We are a team that keeps your private medical practice’s best interests in mind. In the same way, you care for your patients, and our dedicated staff has that same passion for seeing your medical practice succeed.
Key Benefits to Joining with MedPro Services:
- Increase your revenue.
- Reducing claim coding errors.
- Speeding up the claim reimbursement process.
- Increasing the likelihood of recovering outstanding claims.
- Ensuring that your medical practice complies with the ever-changing billing rules and regulations.
- Offering detailed monthly reporting with your practice’s financial health grade results.
- MedPro Services Guarantees to match or exceed MGMA’s Orthopedics Metrics.
Services We Provide
- Data Processing
- Clean Claims Submission
- Insurance Reimbursement
- Claim Denial Management
- Account Receivable Management
- Reporting & Analysis
- Patient Customer Service
- Patient Payment Portal
- Workflow Technology & Tools
We Make the Transition Easy!
You may think moving your medical billing to us is daunting. But rest assured, we are experts in making this a simple process for you and your team.
MedPro Services. Inc provides medical billing expertise to Orthopedics, Podiatry, Micro Hand Surgeons, Physical and Occupational Therapy, and all other Muskulear Specialty practices and clinics throughout the United States
