Remittance Processing Services
While many administrators look at coding and clinical documentation as the key anchors for effective medical billing and consider payment posting to be just the process of posting payments, a good payment processing team can provide critical insights into the overall effectiveness of your revenue cycle processes.
Access Healthcare’s remittance processing professionals don’t just process payments but provide you with trends and reasons for denials, prior-authorization, non-covered services, quality of your clinical documentation and coding processes, and effectiveness of your front-end patient collections.
We process the following types of remittance transactions with an exceptional degree of accuracy and timeliness:
Electronic Remittance Advisory (ERA) Posting. Electronic remittances typically contain a high volume of payment transactions. The processing of ERA batches involves loading the files into the revenue cycle system, processing exceptions from the batch runs by making due corrections using the functionality available on the revenue cycle system.
Manual Payment Posting. Payment information from scanned images of Explanation of Benefit (EOB) documents is captured and each line item is posted to the respective patient accounts. By developing practice and physician-specific business rules along with our team, you will be able to ensure accurate payments, adjustments, write-offs, and balance transfers.
Denial Posting. Our staff is conversant with ANSI denial codes as well as the remark codes used by different payers. We post denials into the customer’s practice management system and take actions such as billing the secondary payer, transferring the balance to the patient account, making adjustments/ write-offs as per defined policies, and routing the denied claims to appropriate work queues.
Posting Patient Payment. Patient payments should be accounted for in order to properly close the claim and avoid any inflated AR. We have extensive experience in processing payments received from patients via different channels like POS cash collections, checks, and credit cards (patient portals). Our payment processing professionals account for patient payments, make decisions on transferring any pending balances to secondary insurers, and resolve any credit balances.
Automated Tools for Payment posting
Intelligent Payment Processing Platform.
Our intelligent, OCR-enabled payment processing platform, reads printed EoBs in each payment batch and presents all transactions in a tabular format for instant processing of a high volume of payment transactions. The application is also capable of interfacing and synchronizing with any third-party revenue cycle platform.
Access Healthcare’s Value Proposition for Payment Posting services
Analytics. Not only do we provide production and quality report on our performance but also provide inputs on trends in denials, non-covered services, prior authorization, and deductible or co-payment collection issues at the point of service.
Develop Policies for write-off and adjustments. We help our customers develop clearly defined policies for write-offs and adjustments. Based on these policies, we report any unusual contractual adjustments while processing payment transactions.
Handling Denials. We route denied claims to the appropriate coding and denial management team for rework and re-submission to payers in a timely manner.
Filing Claims with Secondary Payers. Identifying claims with secondary payers and processing claims for any remaining balances.
Knowledge Management. Organized business and process rules stored in our knowledge management tool, .Knol helps us keep track of all the updates by providing an effective service.
Dashboards. Dashboards that provide instant access to process health indicators and enable continuous improvement.
Contact us to learn more about Access Healthcare's Remittance Processing Services
Automated payment posting allows for instant processing of a high volume of payment transactions.
GLOBAL COLLABORATION IS KEY
In today’s competitive environment, your healthcare organization should be considering implementing a global outsourcing strategy. However, it is critical to carefully evaluate various options to achieve optimal results for your company with the least risk.
You are encouraged to view our white paper: 9 things to look for in a Revenue Cycle Services Provider.
