Rannsolve
Rannsolve
  • About Us
  • Services
    • Data / Document Management
    • Software Development
    • Healthcare RCM
    • Managed Services
  • Press Release
  • Contact Us
    • About Us
    • Services
      • Data / Document Management
      • Software Development
      • Healthcare RCM
      • Managed Services
    • Press Release
    • Contact Us
CONNECT WITH AN EXPERT
+1 (972) 525-1177 |

How A/R Follow-up Plays a Significant Role in Healthcare RCM

ar follow-up
  • Rannsolve
  • July 27, 2022
  • Healthcare RCM
  • account receivable follow-up, accounts receivable, AR follow-up, AR follow-up in medical billing, medical billing AR follow-up, medical billing process, rannsolve, texas, usa

With the increasing number of healthcare services by physicians and hospitals, the loss in payments or frequent claim denials is increasing substantially. This is where A/R follow-ups come into the picture to streamline the operations and ensure a smooth and successful transition between the prospects – patients, providers and insurance carriers. 

What is A/R follow-up in Healthcare RCM?

Accounts Receivable (AR) is a process of recovering the bill amounts acquired by the patients to the healthcare providers or physicians from the insurance companies. 

A specific team of professionals focuses on recovering overdue payments in the pipeline and ensuring that they are received through a systematic approach with regular follow-ups through calls, texts, or emails. 

Different Stages of A/R follow-ups:

A/R follow-ups, in general, consist of 3 different stages: 

  • Initial evaluation
  • Analyze and prioritize
  • Payment collection

Initial evaluation: 

  • This step involves identifying submitted claims concerning AR aging reports. 
  • With the step mentioned above, it becomes easier for the team to review or check the claims and whether they fall under the healthcare provider’s policies or regulations. 

Analyze and prioritize:

  • This step involves prioritizing claims that are unclaimed and unsettled by the insurance companies, which helps in better revenue returns. 

Payment collection:

  • The recognized claims are sent again to the insurance companies, where appropriate denial information must be filled in within specific time limits and in line with the policies. 
  • After claim resubmission, concerning payments are posted and followed up for medical billing with provider’s regulations, resulting in better revenue payments and growth of an organization. 

Importance of A/R follow-ups in Medical Billing Processes:

Here are a few reasons that show the desperate need for A/R follow-ups in medical billing:

Providers’ financial stability:

A positive cash flow shows the financial stability of a healthcare service provider. The A/R follow-up team helps maintain a steady flow of revenue, resulting in better patient support.

Recovering payment overdue:

Overdue payments could be problematic. But, with a dedicated A/R follow-up set up in place, rest assured as they help recover outstanding on time. 

Reduced time for outstanding accounts:

The primary motive of A/R processes is to minimize the amount of time taken for outstanding bills. The A/R team devises a suitable plan of action for the unsettled accounts and with proper tracking techniques, the claims are processed with timely payments in a stipulated time. 

Never miss any claims:

One of the prominent reasons for claim denials is that they go missing or are not processed. To avoid this misinterpretation, paper formats have been replaced with electronic forms. This is the easiest way to monitor whether the claims go missing or not being submitted and could be resubmitted for processing.  

Claim recovery:

To keep the information confidential, sometimes, the claims need further approval from the patients’ families and are kept on hold. Then, with A/R follow-ups, the required data is gathered and claims would be submitted for reimbursements. 

Summing it up:

A/R follow-ups have a significant role in healthcare RCM by streamlining the medical billing operations with several techniques for several stages. Companies have in-house medical billing teams to make an organized solution, but outsourcing A/R follow-up processes could positively impact your organization. 

For more details or channel-partnering, please visit https://www.rannsolve.com/.

Spread the love

    Subscribe to our Newsletter

    Loading

    Recent Posts

    • Document Management & Their Vitality in the Financial Sector
    • Nuances & Importance of ROI in RPA Implementation
    • DevOps & Its Striking Benefits in the Business Arena
    • Most Happening Hustle & Bustle in E-Discovery
    • Importance of Robotic Process Automation in Data Extraction

    Categories

    • Case Studies
    • Document Management
    • Healthcare RCM
    • Managed Services
    • Press Releases
    • software
    • Uncategorized
    • Whitepaper
    1.972.525.1177
    Enquire Now

    Services

    • Data / Document Management
    • Software Development
    • Healthcare
    • Managed Services

    Industries

    • Government
    • Healthcare
    • Finance
    • Insurance
    • Logistics
    • Legal Support Services

    About

    • Locations
    • Leadership
    • Security
    • Awards & Certifications
    • News
    • Events

    Connect With us

    © 2023 All Rights Reserved. Rannsolve Inc.

    This website uses cookies

    This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Read More

    Accept Remind me Later Cookie Settings
    I consent to the use of following cookies:
    Cookie Declaration About Cookies
    Necessary (0) Marketing (0) Analytics (0) Preferences (0) Unclassified (0)
    Necessary cookies help make a website usable by enabling basic functions like page navigation and access to secure areas of the website. The website cannot function properly without these cookies.
    We do not use cookies of this type.
    Marketing cookies are used to track visitors across websites. The intention is to display ads that are relevant and engaging for the individual user and thereby more valuable for publishers and third party advertisers.
    We do not use cookies of this type.
    Analytics cookies help website owners to understand how visitors interact with websites by collecting and reporting information anonymously.
    We do not use cookies of this type.
    Preference cookies enable a website to remember information that changes the way the website behaves or looks, like your preferred language or the region that you are in.
    We do not use cookies of this type.
    Unclassified cookies are cookies that we are in the process of classifying, together with the providers of individual cookies.
    We do not use cookies of this type.
    Cookies are small text files that can be used by websites to make a user's experience more efficient. The law states that we can store cookies on your device if they are strictly necessary for the operation of this site. For all other types of cookies we need your permission. This site uses different types of cookies. Some cookies are placed by third party services that appear on our pages.
    Cookie Settings