Old AR / Legacy AR
Is your billing team fatigued with burdens of mounting claims and unknown reasons amounting to old and aged AR? A prolonged continuation of this chain will result in destabilized cash flow adding to more stress to the smooth revenue funnel. Medical billing and coding businesses lose a lot of money when there is no structured process in place; at QWay Healthcare we assist such businesses in streamlining their accounts receivable follow-up procedures and increasing revenues. Our highly experienced and certified professionals help clients by routinely checking on the unpaid claims, and shortening the AR process time.
Old AR / Legacy AR services We Offer
- Follow up services: Our experts closely follow up for the pending claims, investigate into denied claims, and work towards bringing down the A/Rs percentage with appropriate strategies.
- Recovery services: We identify the potential billing scenarios and perceive the different set of actions to be followed driven by data and strong framework.
- Analysis reports: We look deeper into the problems and challenges that occur throughout the month and analyse the possible outcomes for the future cases in the form of monthly financial reports. We take into account various deductible amounts like coinsurance, non-collectibles, and others and help you with billing them the same efficiently.
- Follow ups with insurers: A large amount of claims turn into aged A/Rs due to non compliance of follow up with insurance companies. Our teams follow defined set of actions and closely monitor the account receivables following up processes with insurers.
- Old AR clearance: Improper follow-up skills and poor management techniques lead to mounting of old AR resulting in loss of potential revenue streams. Our teams strategically follow up for the backlogs and pave way for declogging of the aged ARs.
How do we work?
We recover old AR & manage them judiciously by :
Being aware of the TFL:
We are a medical billing company that proactively works towards avoiding AR pile up. The Timely Filing Limit which is considered as one of the main reasons for AR pile -up varies from one payer to another. We learn the pre-determined TFL of the payer and submit claims accordingly.
Timely filing of Appeal:
A denied claim needs to be carefully assessed by the account receivables professional. It is important to file an appeal within 7 days of receipt of denial notice from the payer. We watch it on time when it comes to re-filing of appeals, in order to crunch down on ageing AR.
ATB, AR Report and EDI:
Using an EDI report allows us to easily track the change in the status of the reports. The ATB (Aged Trial Balance) report throws a lot of light on the outstanding amount due and the AR Report enables the accounts receivable professional to contain the DRO (Days in Receivables Outstanding) within the 60 and 90 days.
Why choose QWay for Old AR / Legacy AR?
- We care for your time and assure you the timely follow-ups for clearance of aged ARs.
- We follow industry standards and procedures for appropriate filing of the claims and investigating into loopholes of the mounting denials. We follow HIPAA guidelines and ISO/IEC 27001:2013 ISMS compliant.
- Our expertise across multiple industries enables us to comprehend the procedural complexity faced by healthcare organisations, and our highly skilled medical data entry professionals address these issues to provide timely, effective services at reasonable prices.
- We designate a committed project manager who will serve as your single point of contact and keep you informed at every stage of the project.
Got a question?
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