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Payment Posting in Medical Billing | Payment Posting Services
Essentially, the initial defense against identifying payer problems is payment posting. This includes uncovering issues like denials for non-covered services, medical necessity, and prior authorization. These issues can then be given to team members to resolve.
Payment posting is a crucial part of the medical billing process as it helps optimize revenue cycles by identifying denials that need to be addressed. Performing payment posting accurately requires attention to detail and quick turnaround time, which is not a task that can be performed by just anyone.
If you outsource payment posting to CREDENSE, a top healthcare BPO services company, you can simplify the process for your medical practice and achieve cost efficiencies. Our company follows best practices in quality management and information security to ensure that payment posting is outsourced in line with your business requirements, while also adhering to industry standards for medical billing processes.
CREDENSE's Payment Posting Services To Improve Medical Billing
We offer various services related to payment posting, which is the final stage of the medical billing process where payment records for each patient are entered into the billing management software.
Explanation of Benefits (EOBs) Analysis
Our payment posting executives accurately input several parameters, including patients' names, account numbers, service dates, denials confirmation, procedure codes, deductibles, co-insurances, and more, from the Explanation of Benefits (EOB). They also analyze the data to identify related payments, such as the frequency of inflows, percentage of insurance receivables, and denials, and then record this information with precision.
Tasks Based on EOB Analysis
After identifying payment patterns, we provide the respective billing departments with an action chart to inform patients of any required balance payments. This simplifies the process of collecting outstanding receivables from patients for the billing department.
Tracking Cash Inflow
At CREDENSE Solutions, our team continuously monitors the outstanding receivables and cash flow status in real-time. This allows us to easily access the rate of cash inflows and take necessary actions in case of unforeseen circumstances that may cause a reduction in cash flow.
Benefits Of Payment Posting Services At CREDENSE
Outsourcing payment posting services to us at CREDENSE Solutions provides you with the advantage of our extensive experience in both medical billing and coding. Our expertise in payment posting sets us apart from our competitors. When you choose to work with us, you can benefit from the following:
Reviewing your revenue cycle can help increase profits
After payments are posted to patient accounts, our skilled payment posting analysts can help you identify areas for improvement in your revenue cycle. By maximizing revenue and decreasing accounts receivable days, we can help increase profitability.
Find solutions to recurring issues and prevent denials.
Accurate payment posting can help resolve recurring problems and prevent denials within the revenue cycle. Our team ensures that adjustments and denials are posted correctly, and we analyze the reasons for denials to identify and address underlying issues. By doing so, we help you avoid future denials and improve the efficiency of your revenue cycle.
Improve Existing Procedures.
Efficient revenue cycle procedures are crucial to the productivity of medical office staff. Once issues have been pinpointed, our team can evaluate whether to add, enhance, or remove processes to optimize revenue cycle effectiveness.
Accelerate Denial Resolution Time.
While it is optimal to prevent denials, it is not always possible. Every day that a denial goes unresolved adds to the accounts receivable days. Our team can promptly detect denials and correctly resubmit them to considerably reduce the overall accounts receivable days.
Ensure Accurate Claims Submission to Secondary Payers.
The accuracy of payment posting also impacts claims submission to secondary and tertiary payers. Our team ensures that primary payments are posted correctly, resulting in accurate billing for secondary and tertiary payments. This leads to greater satisfaction among vendors and customers.
Why Select Credense for Payment Posting Services?
Our team of highly skilled professionals has been offering payment posting services for over ten years to clients worldwide. Here are some of the main reasons why you should choose us:
Consider Credense for Exceptional Payment Posting Services
By outsourcing your payment posting services to us, you can focus on your main competencies and increase revenue. We guarantee that adjustments and denials are processed correctly, which helps patients comprehend their payment obligations.
If you require any type of payment posting service, please don't hesitate to contact us, and we will be delighted to assist you.
American Medical Billing Agency | American Medical Response Billing | Denial Analysis in Medical Billing Services | Medicare Credentialing Service | Payment Posting in Medical Billing | RCM