All About Account Receivable(AR) In Healthcare

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ALL ABOUT ACCOUNT RECEIVABLE(A/R) IN HEALTHCARE
www.capminds.com
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Introduction

• Account receivable or A/R is a term used to
• signify cash owed to your training for
• administrations you have delivered and
• charged.
• Any installments due from patients, payers, or
  different underwriters are viewed as A/R

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Account Receivable Services

• Management of reports dealing with insurance,
  write-offs, bad debt reviews, collection
  analysis, and ratio analysis.
• It contains an analysis of insurance contracts to
  ensure healthcare providers are being reimbursed
  correctly.

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Account Receivable Management Process

• The procedure starts after the provider makes and
  send Health Insurance claims (Electronic/Paper
  claims HCFA structures) to different Insurance
  Companies
• It contains an analysis of insurance contracts to
  ensure healthcare providers are being reimbursed
  correctly.

A/R SERVICE WOULD INCREASE THE REVENUE COLLECTION
OF THE CLIENTS.
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Types Of Claims Follow Up

• 1. No Remark Claims
• It refers to the claims that have absolutely
  no status.
• 2. Last Remark Claims
• It refers to the claim remain unpaid for
  various reasons and it followed up on a monthly
  basis

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Steps In Accounts Receivable Follow Up

• A/R Analysis
• In AR analysis, the account receivable summary
  plays an important role.
• Follow up with payor
• They are responsible for looking after denied
  claims and reopening them to receive maximum
  reimbursement from the insurance companies.

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A/R Analysis

• In A/R Analysis, A/R summary will help to see who
  owes money,how much each customer owes, and who
  is past their due date.
• While analyzing the A/R summary, each payer class
  should be examined and check if the pattern of
  A/R totals by time category
• It is the responsibility of billing staff to
  perform insurance eligibility verification before
  the date of service to avoid the patients
  responsibility entering into A/R cumulation.

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A/R Follow up with payor

• Providers should collect the charges at the time
  of service to reduce A/R, also patients with a
  variable co-payment could be charged at the time
  of service.
• Forceful catch up with the insurance agency's on
  all records at any phase of the aging bucket has
  a significant influence in A/R follow up
  exercises

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Responsibility of A/R team

• Reducing days in A/R,
• Claims submission and
• Improving collection ratio with an increase in
  the probability of payment through timely follow
  up

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Ways to reduce A/R days

• Experienced and trained Employees
• It saves a lot of money for healthcare
  organizations in the long run.
• Automating your A/R department
• It reduce costs as well as improve productivity
  and efficiency across the whole organization.

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Outsource Accounts Receivables Services






WE HELP YOU TO EFFECTIVELY DEAL WITH YOUR
ACCOUNTS RECEIVABLES.

• At CapMinds, we can follow-up your pending
  claims, trace the reasons for claims denials,
  track outstanding receivable balances by the
  customer, and by the date when payment is due,
  initiate collections, and provide periodic
  reports.

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Thanks

• Contact us
• CapMinds Technologies
• 42240 Mason Ridge Ct, Brambleton, VA 20148
• 1 571.213.3245
• info_at_capminds.com
• https//www.capminds.com .com/