AR in medical billing

Any payments due from payers, or other guarantors are considered AR in medical billing. It is crucial for healthcare providers and private practices to track the claims they submit to insurance companies to optimize revenue recovery and increase the revenue. The goal of AR in medical billing is to achieve the shortest collection period possible.

Meridian follow-up on the claims in 30 working days from the claim submission date

  1. Claims never go missing
  2. Minimize time for outstanding accounts
  3. Shrink account receivables by 45 – 60 days
  4. Claim denials can be followed up
  5. Helps in recovering overdue payments
  6. Recovering claims kept pending for information
  7. Best Medical Billing Company

AR Follow-up and analysis process

Account receivable team regularly follows-up with the insurance company to know the claim status on the 30th day from the claim submitted date

  1. Claim inquiries are done efficiently by live chat, secure email, Insurance calling and secure message on insurance portal
  2. Claims needed resubmission are checked for all necessary documents such as Medical records, referral, prior authorization etc.
  3. Unpaid VA claims are followed up by submitting medical records and resubmission every 45 days
  4. Meridian conducts frequent AR analysis to compile all claim details to initiate corrective actions for non-payments
  5. Insurance claims pending because of COB, Pre-existing conditions etc are followed up aggressively, every week
  6. Every week Account receivable aging reports are compared with previous weeks to identify:
  • Unpaid Claims
  • Low Paid Claims
  • Denied Claims
  • Rejected Claims
  • Claims not on file

Reports

Medical billing reports can help healthcare providers to understand the health of the practice. Meridian’s reports are customized depending upon the practices requirements. The reports are shared with the health care provider daily, weekly, monthly and yearly. Reports can help to understand how the practice is performing based on several revenue metrics. Meridian offers a number of customized reports, including, but not limited to

  1. Charges and payments summary – This report will help the healthcare provider to understand if there is any increase or decrease in payments
  2. Insurance collection report – This report will help the healthcare provider to find in which insurance bucket the practice have maximum number of patients
  3. Patient collection report – This report will help to find how much the practice collected from the patients
  4. CPT Production report – This report will help the healthcare providers to analyse the services completed by number of units and compare it with each facility or provider
  5. Visit comparison report – Healthcare providers can identify number of new patients visits and compare it with previous month or with other facilities
  6. Account receivable aging report – The practice/healthcare provider can identify how much money is out there in the pipeline grouped by each insurance and patients
  7. Provider/Payer/Facility/CPT wise AR report – This report will help the practice to identify how much the insurance account receivable grouped by provider, payer, facility, CPT etc
  8. Coding analysis report – This report analyses the number of office visits, hospital visits and other CPTs.
  9. Dialysis visit comparison report – This is specific to Nephrology practice which helps the healthcare providers to identify the dialysis visit count and compare it with previous month or with each dialysis facilities
  10. Payer mix summary report – This report shows the payer mix by their volume over a period of time (charge, payment and patient count)
  11. Adjustment detail report – The healthcare provider can see how much amount is contractually adjusted and written off
  12. Payerwise payment comparison report – This report will help the healthcare provider to find which insurance pays the maximum of payments.
  13. Incomplete progress notes report – This report will remind the healthcare provider to complete the progress notes on time
  14. Preauth/Referral claims report – This report will remind the healthcare provider to obtain the precertification/authorization and referrals from other facilities and practices