Accounts Receivables Process

The Accounts Receivables process ensures that organizations receive payments within a specific timeframe, improves collection rates, and accelerates invoice processing, which contributes to revenue. It also involves reviewing insurance contracts to confirm proper reimbursement for healthcare providers. An efficient insurance model helps healthcare organizations recover overdue payments from insurance carriers quickly. That’s where Accounts Receivable (A/R) follow-up plays a role in medical billing. It helps healthcare providers operate smoothly and ensures that pending payments are reimbursed as quickly as possible. Managing investments, collecting payments from patients and insurers, submitting accurate forms, and ensuring systems operate correctly can be difficult. That’s why hiring an accounts receivable services provider is ideal for busy hospitals, clinics, and healthcare facilities. The main goal of A/R management in healthcare is to boost cash flow by reducing collection times and related costs.

Why Is AR Follow-Up Essential in Medical Billing for Healthcare Services?

Medical Accounts Receivable Services The A/R follow-up team in healthcare is responsible for reviewing denied claims and reopening them to secure maximum reimbursement from insurance companies. In-house A/R management and Revenue Cycle Management are outdated methods. Now, skilled billing professionals are needed to manage A/R follow-up. Besides A/R follow-up, tasks like charge entry, benefits verification, and payment posting are crucial. Medical billing professionals assign the correct procedure and diagnosis codes based on the treatment plan during these steps. Incorrect claim submissions can lead to insurance denials, so having a dedicated A/R team that can follow up with insurers to resolve rejected claims is essential.

Why Outsource Accounts Receivable Services

Many medical providers experience growing expenses without a corresponding increase in recurring cash flow. Without consistent and accurate A/R follow-up, providers often face large sums of unpaid medical claims that are over 180 days old. The number of unpaid claims and the time needed to review, correct, appeal, and resubmit them typically exceed expectations. A small in-house team cannot efficiently reduce or eliminate outstanding A/R and recover maximum revenue in a short period.

Why Choose Go Medical Billing to Outsource Accounts Receivable Services

Go Medical Billing’s A/R program solves issues that delay collection efforts for individual providers. A full team is assigned to handle unpaid claims and resolve them quickly. We employ experienced and skilled professionals in medical billing and collections, most of whom have years of experience in coding and reimbursement. To optimize cash flow and collections, companies need a seamless Order-to-Cash cycle. Go Medical Billing improves end-to-end A/R management by increasing cash flow, reducing outstanding receivables, identifying revenue gaps, and resolving them. Our staff works closely with insurance providers to manage collections efficiently while maintaining strong client relationships. Our Accounts Receivable Solutions are flexible and customizable, allowing clients to use full services or start with specific processes, business units, or locations. We ensure clients face no issues in receiving their payments.

Accounts Receivable Services We Offer

Go Medical Billing provides the following A/R services to hospitals, emergency rooms, urgent cares, and clinics:

• Prepare and submit claims to insurance companies with client approval
• Record and manage revenue
• Submit regular statements
• Handle cash receipts and resolve short payments
• Issue approved credit memos and refund checks
• Maintain accurate subsidiary receivables ledger
• Implement customer-approved process improvements
• Apply received funds to accounts and resolve underpayments
• Monitor and follow up on A/R collections
• Prepare A/R reports based on age, industry, customer, etc.
• Generate invoices using documentation like delivery notes or sales orders
• Reduce operating costs and simplify workflows
• Mobilize resources for complex projects to speed up delivery
• Use quality control, structured billing, and accurate A/R practices to ensure error-free billing