Payment Posting
Getting the right balance
between recording payments is very important to your reimbursement system. At the same time, an inaccurate system can easily damage your financial losses.
In this case, your payment may be lost regardless of payment. If you don’t want to face such problems, you can choose our experts and manage your entire payment storage prices without complaints or mistakes.
One of the best things about our services is that we believe this method covers many things like patient payments, outstanding payments, premium entries either manually or electronically, denial notices and authorization or verification.
Precise payment posting plays a crucial role in the effective management of the revenue cycle. Inadequacy in the proper posting of payments may result in inflated bills, reduced fees, disapprovals, and unremitted income. Numerous healthcare entities engage in the practice of delegating their accounts receivable management to an external medical billing enterprise. Despite the prevalence of electronic format for Explanation of Benefits (EOBs) provided by payers, some payments are still accompanied by paper-based EOBs. The EOBs pertaining to modifications, deductions, and transfers of balances indicate that the team at AMED RCM exhibits a high degree of precision while processing said payments.
Advantages of Amed Rcm Payment Posting Services
Our extensive background in the realm of billing services, coupled with our specialized proficiency in payment posting, sets us apart from our industry peers. Entrusting your payment posting services to us unlocks the following advantages
- Electronic Remittance Advice (ERA) Posting: Depending on your practice management system, we have the capability to seamlessly post payments electronically for numerous payors. ERA posting is strategically designed to reduce manual efforts and significantly minimize the potential for errors. Typically, the setup involves a seamless collaboration between your practice management system vendor and our trusted clearinghouse partners.
- Expert Denial Posting: Within our suite of services, we seamlessly integrate denial posting into your practice management system, synchronizing it with insurance payments posting, contractual adjustments, and the release of secondary claims. This approach holds immense value, particularly for robust reporting capabilities, while simultaneously creating a systematic denials worklist for efficient resolution.
- In-Depth Denial Trends Analysis: Many complex challenges can emerge within the revenue cycle, which can often be resolved through precise payment posting. Our payment posting services encompass the meticulous recording of payments, adjustments, and denials. Our seasoned team collaborates closely with your practice to identify the root causes behind denial trends.
- Effective Denial Resolution: While prevention is the most effective strategy for managing denials, it may not always be achievable. Each day that denials remain unresolved contributes to the extension of your overall accounts receivable days. Our proficient team possesses the expertise toswiftly identify denials, accurately re-file them, and implement measures to effectively reduce accounts receivable days.
- Seamless Secondary Claims Processing: Accurate payment posting plays a pivotal role in the seamless submission of claims to secondary and tertiary payers. We prioritize the precise posting of primary payments, ensuring a smooth process for billing secondary and tertiary claims.
- Continuous Process Enhancement for Efficiency: We understand that revenue cycle processes have a direct impact on the efficiency of your staff and the overall profitability of your office. Our dedicated team collaborates closely with you to identify areas where improvements can be made. This includes assessing the potential introduction of new processes, refining existing ones, or eliminating redundant steps to enhance the overall effectiveness of your revenue cycle.
At Amed Rcm, we are steadfast in our commitment to not only address the challenges within your revenue cycle but also to optimize it for peak efficiency and financial well-being. Trust us to enhance your payment posting services and ensure a seamlessly streamlined revenue cycle for your esteemed practice.