Payment Posting – Payment posting involves posting and deposit functions and reconciling posting activities with deposits. Although it seems simple enough, this is an extremely fundamental feature of the revenue cycle. The payment posting process effects many other functions of the medical office and can have a major impact on patient satisfaction, efficiency, and overall financial performance. On average, nearly 20% of medical payments are being keyed manually due to the inability of certain payers to provide an electronic remittance advice (835/ERA) back to providers. These payers cost providers time and resources due to their paper-based processes, thus forcing provider groups to re-key payments manually.
Patient Statements – Patient statements are generated every month. Reminder statements are automatically sent out after 30 days and our direct phone number is provided on all statements to eliminate patient contact with your office. A Collection Letter is sent after two unpaid statements.
Accounts Receivable – Insurance needs to be followed up after 14 business days of claims submission in case of delay or no payment. This ensures that insurance has the claims for processing or any required documents for processing the claims.