Shorten the Accounts Receivables Cycle with Denial Management Service

Shorten the Accounts Receivables Cycle with Denial Management Service www.ecareindia.co m

 Aging account receivables greatly impact the revenue cycle.  It is of paramount importance to ensure that cash flow is seamless and streamlined through efficient processes.  Prioritizing action and follow up in time barred denials is important to the financial health of entities.  For an efficient workflow and improved financial prospects, it is imperative to shorten the Accounts Receivables (AR).  We focus on the need for better denial management services to maintain lower aging in AR.

 Professionally managed medical billing services utilize efficient billing processes to reduce the prospects of lost reimbursements.  This is effectively accomplished through an indepth analysis of the billing process.  The reasons for lost reimbursements are tracked and coded.  This helps in the design of processes that prevent their recurrence in the future.  This improves probability of acceptance of claims in initial submissions.

Preferring of appeals against claims that are denied

 A denied claim is effectively not a conclusion.  The process of appeals has to be handled professionally.

 The re-submission of documents needs to be carried out with greater care, meeting all requirements, and justifying re-submission.  The use of all available channels for liaison post the submission of appeals is necessary for early disposal.

Dedicated follow up to secure missing records and dues  Another important aspect for shortening the AR is the need for dedicated follow up.  Improper documentation needs to be corrected by securing missing documents and information which can then be used for re-submission.  Dues receivable from various entities stand a greater chance of being cleared faster with proper follow up.  Following up is a fine art of contacting at the right time, in the most conducive manner for best results.

 The maintenance of shorter AR is vital to the success of stakeholders in healthcare.  The use of proven denial management services from professionally managed billing specialists will ensure better financial health.  When processes are executed with greater efficiency, including the use of advanced tools, average age of AR is kept under control.  This leads to a positive impact on revenue and leads to better maintenance of the revenue cycle! .

THANKS Do you have any questions? info@ecareindia.com +1 813 666 0028 CREDITS: This presentation template was created by Slidesgo, including icons by www.ecareindia.com Flaticon, and infographics & images by Freepik