Accounts receivable management is an integral function in any business organization. It has a significant impact on your business’s customer relations, cash flow, operating capital, and bottom line.
Accounts receivable (AR) refers to payments owed to your business for services or products already delivered. Proper AR management is the process of ensuring that these payments are made on time, consistently, and reliably. Well-managed AR minimizes past-due accounts and the time and effort your staff needs to spend on them.
AR management encompasses several different processes. It will involve the appeals and disputes on claims denied by insurance companies wrongfully, sending monthly patient statements, timely appeals and dispute submissions, monitoring and analysis of payment trends, collections, and reconciling of payments received.
Because of its reach, good AR management can impact the business in many ways. The most obvious of these is the minimization of incorrect denials and constant follow-up with insurance companies and patients. No business wants to be burdened by too many outstanding invoices or delinquent payments. Having healthy and reliable payments from patients and insurance companies ensures that you will have sufficient cash flow to fund the ongoing needs of your business.
A well-managed AR program will also support good patient relations and a healthy reputation for your business. Finally, an efficient process will help your staff stay focused on important, high-value work that supports your bottom line.
Certified Healthcare Billing specializes in Aging A/R recovery. We pursue every old claim by assigning our dedicated team of Aging A/R specialists. If your in-house billing team can’t keep up with Aging, we can help!
We use cutting-edge technologies, including the cloud, to provide you with end-to-end medical billing services.
We provide Medical Billing Services in Los Angeles, California and surrounding areas.