Fast Billing Solutions

There are many challenges of AR in medical billing. It might seem hard to overcome these challenges. However, certain practices can help you improve the accounts receivable process in the healthcare field. In this guide, we will go through the key practices that you should follow to manage accounts receivable in medical billing.

Managing AR in Medical Billing

Here are the best practices that you should follow if you want to ensure a flawless accounts receivable process in medical billing:

Develop Patient Relationships

One of the best practices to manage accounts receivable in healthcare is to ensure a great customer experience. Try to make it as supportive and transparent as possible. Half of the consumers would prefer healthcare providers who provide a greater customer experience. If there is a healthy account receivable process, it will become straightforward to ameliorate and circumvent problems, such as claim denials.

Collect Payments Promptly

Collect your payments right after you provide service. This is the simplest way of keeping the accounts receivable department running efficiently. If you don’t collect payments at the right time, it will have bad consequences.

Pull an Account Aging Report

With account aging reports, you can see all pending accounts and when they are pending. It will help you resolve your issues by identifying habitual late-payers. Therefore, you can decide which services you should discontinue for avoiding credit risks.

Consistent Follow-Ups with Unpaid Accounts

It is also critical to provide regular follow-ups with unpaid accounts to increase the chances of payment collection.  There must be a clear overdue payments collection policy. It should include courtesy calls, demand letters, and collection service deployment.

Some of the other best practices to manage AR in medical billing include hiring experienced employees, automating AR workflow, payment information collection in automated systems, etc.

You May Also Read: What is Account Receivable in Medical Billing?

Leave a Reply

Your email address will not be published. Required fields are marked *