BillMD Accounts Receivable
Money waiting to be collected is revenue lost. Plain and simple!
Our Billers believe that the accuracy of claims and the efficiency in retrieving payments are key to optimizing revenue collections. Our goal is to improve clients' cash flow by reducing days in accounts receivable and increasing profitability through a higher collections ratio.
Our Billers identify category/payer combinations and work on resolving the mix that results in the best collections. They prioritize claims by dollar value and date of service, organizing the accounts receivable (AR) timeline-wise (30 to 45 days, 45 to 60 days, and beyond 60 days) to address critical claims first.
Experienced in identifying patient accounts requiring follow-up, our Billers take necessary actions to collect unpaid and partially paid claims. They run reports on accounts 21 days past due and contact insurance companies to check claim status, re-file, or gather additional information, maintaining the average age of accounts receivable at 25 days or less.
It is common for clinic revenues to get stuck in the insurance follow-up stage, where thousands of dollars remain uncollected due to the tedious process of dealing with insurance companies. Our Billers have spent years mastering this process, using efficient maneuvers of IVRs to minimize hold times. Some have such established relationships and deep understanding of claim status that they can often resolve issues without even picking up the phone. They truly know their jobs!
