Backlogged Accounts Receivables
Effectively managing Accounts Receivables (AR) is a pivotal element within the revenue cycle, and RMS takes the lead with a team of skilled medical billing experts and AR analysts. Our dedicated professionals ensure the submission of error-free claims and diligently pursue denials and non-payments on behalf of your organization.
By implementing time-tested best practices and proven processes, we streamline payment collection, reducing backlog and accelerating revenue flow. Our goal is to surpass your AR objectives, guided by a team that comprehensively understands the unique needs of your organization. Through the right approach, we not only address current challenges but also identify and rectify errors in the revenue cycle to prevent future AR backlogs.
Many practices underestimate the significance of the time claims linger before reimbursement. Insurance agencies exploit this, knowing that providers often lack the resources to probe claim denials thoroughly. When claims are outsourced to collections agencies without the requisite insurance expertise, pursuing appeals for adequate reimbursement becomes challenging.
RMS steps in to provide the decisive action needed for financial security. We go beyond merely meeting expectations; we exceed them through effective accounts receivables management. Our approach involves establishing payment arrangements, organizing financing, and implementing promissory notes for self-pay clients. We specialize in resolving disputed claims and balances with insurance carriers, alleviating the burden on management and staff. This not only safeguards the client's business image but also generates revenue while assisting in strategic decision-making for the future.
At RMS, our approach to Accounts Receivables (AR) management involves a meticulous step-by-step process to ensure efficient follow-up with insurance companies:
Identification of Follow-Up Accounts: We initiate the process by identifying accounts that require follow-up with insurance companies.
Comprehensive Claim Analysis: Our AR analysts conduct thorough research on claims denied by carriers, rejections from clearinghouses, and instances of low payments. This detailed analysis forms the basis for the subsequent steps.
AR Follow-Up Team Engagement: Armed with comprehensive claim information, our dedicated AR follow-up team engages in follow-up activities with insurance companies. Their goal is to determine the status of each claim.
Analytical Compilation for Corrective Action: Based on the feedback from the follow-up team, our AR analysts conduct a comprehensive analysis. This involves compiling all claim details, providing a clear picture for initiating corrective action in cases of non-payment.
Strategic Action Planning and Execution: The necessary actions are strategically planned and executed to collect outstanding AR. This proactive approach ensures a streamlined process that maximizes revenue collection.