What is Medical Accounts Receivable Management?
Managing your business’ accounts receivable – or all the money owed to your practice for services rendered – is an important part of running a healthcare organization. Whether you work in a large hospital or a single-physician practice, effectively managing healthcare accounts receivable can increase your revenue significantly as well as improve in-office efficiencies and streamline staff tasks.
With increasingly complicated processes of insurance denials, claims and eligibility, Medicare/Medicaid eligibility and overall patient follow-up, medical office staff members are finding an overwhelming amount of tasks to be increasingly complicated and time-consuming. Combined with declining rates of reimbursement and increased business operating costs, many practices find that a more sensible program of accounts receivable management would greatly benefit the business end of their offices.
How Is Accounts Receivable Management with AR Logix, Inc. Different?
AR Logix, Inc. offers a way to handle patient collection efforts more thoroughly with comprehensive medical accounts receivable solutions. Outsourcing to professionals means that your healthcare receivables management will be handled by a team of professionals with specialized training in healthcare IT with patient scoring and analytics, and a high level of respect for your valued patients. Accounts receivable services with AR Logix, Inc. includes:
- Thorough management of all account receivables with patients and insurance companies
- Follow-up calls with patients at times that are most convenient for them – not only at times when your office staff is available to talk on the phone
- Collectability scoring to determine a patient’s likelihood to pay
- A time-tested process for collecting and following up with patients based on their collectability score
- Easy identification of financial aid eligibility
- Skiptracing to verify patient address/contact information
- Advanced healthcare technology incorporation and full HIPAA security compliancy
- Insurance resolution, such as denials and Medpay
- The ability to focus on the reason you became a healthcare professional: to help your patients and improve care.