"New A/R", defined (roughly) as accounts over 30 days old or in some instances 45 days old is often a problem for medical facilities due to the labor intensive aspect of keeping up with this important part of good cash flow. If not handled correctly in a timely manner these, medical accounts or claims will end up in the old category or harder to collect category which can be 90 days and older. This is true for medical offices, hospitals, outpatient services, rehab facilities, long term care facilities, acute care facilities, etc.
MOS provides this follow up service by outsourcing your insurance collections accounts once they are past a certain time period and start making follow up calls to insurance companies to improve your collection rate. At a substantially low cost this service will be highly effective in keeping your AR in check and keeping you medical facility on track with your medical billing and collections through our medical accounts receivable outsourcing module. In outsourcing your new accounts receivable our primary focus will be collections and preventing all new accounts from going over a stipulated time period thus keeping your insurance claims from getting older. To learn more about the technology please take a look at our Medical billing-how does it work page.
 Collections
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One of the major problems in most medical facilities and offices is the time needed to follow-up with all accounts receivables, including new and old A/R along with the day to day medical billing and patient management. By outsourcing your accounts receivable from insurance and patients, our well trained and educated teams (many of our analysis team are graduates if not MBAs) will immediately follow set protocols to target the right accounts to prevent accounts becoming old. By putting more manpower on your account, we are able to provide more collection calls per claim/per account/per office. Our outsourced accounts receivable teams will work only on your accounts and focus only on your practice.
How is collections in outsourcing of medical or insurance accounts receivables done? |
Accounts receivable outsourcing: analysis |
A/R analysts are the key to any group. The claims are researched for completeness and accuracy and work orders are set up for the call center to make calls. A/R analysts are responsible for the cash collections and resolving all problems to enable the account to have a clean A/R. They also research the claims denied by the carriers, rejections received from the clearing house, and low payment by the carriers. They then plan and implement the appropriate actions. Analyst reviews for global patterns and bulk problems, which can result in taking care of multiple accounts at the same time.
Calling |
This is the hub of activity around which our outsourced medical billing and collections team operates. The caller calls Insurance companies and verifies if the claim is with the carrier and its current status. Upon determining whether the claims are being processed for payment or has been denied, the analyst then takes over. In case of payment he would compile a list of payment details or if denied, he gets the required pre-requisites and begins the necessary corrective action.
Compilation |
All the details are then compiled in Excel, for future use when similar problems occur in any other specialty. This information needs to be made available to anyone who needs to review past records to identify solutions to any particular present scenario. In our outsourcing module we keep track of all AR calls and do spot QA checking to make sure that mistakes do not happen regularly. This helps us to keep our focus on receivables and manage them effectively.
Patient Collection |
If the patient is responsible for any payment including the deductibles we will make the necessary calls to the patient to collect the amount following billing and also follow up to collect these accounts receivables.
We understand that you may have several questions. Please contact us to get more information.
