Payment Posting in Medical Billing

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Payment Posting Service

We recognize that the payment posting procedure in medical billing signals the closure of the billing cycle as we are specialists in monitoring different, mid-size, and big-volume payments. The procedure has an impact on the healthcare provider's overall performance, patient satisfaction, and cash flow, among other key aspects.

At QWay HealthCare, the entire "paying" and payment posting procedure is "handled" by experts with an eye for detail and in-depth knowledge of the billing cycle. Every action is carried out by the proficient and effective payment posting team in accordance with a set of protocols, and last-minute mistakes are dealt with according to the correct procedures.

The team works on closing all payment postings on the last day of the month and increases its success ratio. We strive to maintain a turnaround time of 24 to 48 hours with a success rate of 100%. Our adept team handles various remittances with exceptional precision, ensuring heightened responsiveness while strictly adhering to our clients' established procedures. 

QWay’s Payment Posting services include:

Patient Payment Processing:

We meticulously process point-of-service payments made by patients, encompassing cash, check, and credit card transactions. These payments could be associated with co-pays, deductibles, or non-covered services. Our team meticulously reviews and adjusts this information against each patient’s account.

Insurance Posting:

Electronic Remittance Advisory (ERA): We seamlessly handle high-volume ERAs from payers, processing them in batches by importing them into our clients' practice management systems. We diligently address exceptions that arise during batch runs, ensuring accurate verification of batch totals.

Manual Posting: Clients often send us scanned EOBs, accessed securely via FTPs or EHR systems. We adhere to clients' business rules for adjustments, write-offs, and balance transfers to secondary insurance or patients.

Denial Posting:

Posting claim denials is pivotal for an accurate A/R cycle. We receive denied claims along with ANSI codes or payer-specific medical coding guidelines. Our team possesses expertise in understanding ANSI standard denial codes and payer-specific codes. Each claim denial is meticulously recorded in the practice management system, and appropriate actions are taken, including re-billing to secondary insurance, balance transfers, write-offs, or re-submission for processing.

Benefits of Payment Posting Process in Medical Billing:
  • Ensures precise recording and matching of financial transactions.
  • Facilitates accurate reconciliation of payments against claims.
  • Manage claim denials to promptly find denials, revise claims, and resubmit
  • Applying the patient's copay and transferring any remaining unpaid sums to their account for processing
  • Streamlining the processes of the Collection Agency and Patient Payment Plans
  • Identifies and addresses issues to prevent revenue leakage.

Our Payment Posting services are designed to ensure accuracy, speed, and transparency in the financial transactions of your healthcare organization.

Here’s what we at QWay Healthcare offer you with

Precision and Accuracy

Our dedicated team of professionals meticulously posts payments, identifying and rectifying discrepancies swiftly to maintain billing precision.

Timeliness is Key

We understand the importance of timely payment posting. Our efficient processes ensure that payments are posted promptly, contributing to an optimized revenue cycle.

Real-Time Visibility

Gain real-time visibility into your financial transactions. Our advanced systems provide instant updates, allowing you to monitor and manage your revenue cycle effectively.

Customizable Solutions

Every healthcare practice is unique. We offer customizable payment posting solutions tailored to meet the specific needs of your organization.

Interpretation Expertise

Our team is well-versed in interpreting EOB documents, extracting essential information, and ensuring accurate coding for optimal reimbursement.

Got a question?

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