These objectives cannot be achieved simply by following standard practises that have been prevalent all along. With business needs getting intricate by the day, medical practitioners at every level and setup are aware of the importance of espousing enhanced processes.
Payment posting is the perfect alternative to manual practices like the conventional medical billing system. This solution maintains payment records of every patient in the billing management software, which eliminates several shortcomings associated with manual practices and allows easy access of data in the future.
Hiring services of a reputed healthcare support company to execute complex tasks flawlessly has become essential today. Astron EHS, a leading name offering top-end medical and billing services to hospitals and practitioners, is trusted across the healthcare field for providing world-class payment posting services. It is renowned for the phenomenal difference it has made with its exceptional outsourcing solutions and support without costing a fortune.
How Medical Billing Companies Streamline Payment Posting Services
- Explanation of Benefits (EOBs) Analysis
The EOB comprises important features like name of patient, account number, service dates, co-insurances, denials confirmation, deductibles, procedure codes, etc. The payment posting executives are equipped to enter a patient’s details and simultaneously evaluate relevant data to detect related payments like
- percentage of insurance receivables
- frequency of inflows
and related information in order to record details and process things correctly.
- Tasks Based on EOB Analysis
After confirmation of the payments receivable patterns, the action chart is routed to the corresponding billing department. Details like balance payment are provided to the patient or payer expeditiously, which facilitates the concerned billing department to collect the outstanding from the patient or payer smoothly.
- Keeping Tabs on Cash Inflow
The billing service provider tracks the outstanding amount receivable and the cash flow status efficiently. It grants easy access to the rate of the cash inflows so that necessary steps can be taken in case there’s an issue.
Myriad Advantages of Outsourcing Payment Posting Services
The fact that Astron EHS boasts of unparalleled payment posting expertise in outsourcing and has an extensive experience in the medical billing and coding field gives it an edge in the market. It is reputed to implement the best practices in vital areas like information security and quality management which determine the overall quality of a service provider.
Astron EHS is a pro at executing the following measures that are meant to benefit your practice:
Analysing Your Revenue Cycle to Increase Profits
- Analysis of your revenue cycle for widening scope after payments are posted to patient accounts
- Complete support rendered by experienced staff at the company to ensure:
- upsurge in your revenue cycle
- improving of accounts receivable days
- better profits and efficiency
- Eliminating Recurring Problems and Avoiding Denials
- Issues related to revenue cycle resolved with accurate payment posting measures
- Implementation of posting adjustments and denials with accuracy
- Complete support in recognizing causes for denials and resolving them to prevent the same in future
- Refining Current Processes
Astron EHS guides it clients with deciding whether their processes need additions, improvements or removal of certain elements from the current processes.
- Better Denial Resolution Time
Prompt identification of denials and the right way to re-file them to minimise accounts receivable days
- Accurate Claims Submissions to Secondary Payers
Assurance of posting the primary payment in the appropriate way to ensure the secondary and tertiary payments are billed out correctly.
With considerable years of experience and ability to integrate innovative practises into its payment posting services, Astron EHS has achieved highly impressive results. It is a name to reckon with in the medical care field as it has exhibited utmost consistency in helping all clients achieve billing efficiency of the highest standards.