Payment posting marks the end of the billing cycle, where the payment records of every patient are recorded in the billing management software. It also spawns other processes which need continuous attention. If you want a professional company to accurately and quickly do payment posting and after-posting on your behalf, O2I can help.
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We are now doing over 150,000 Medical Billing transactions/month for a Healthcare Technology Company in USA.
EOB basically consists of patients' names, their account numbers, control numbers, service dates, procedure codes, billed/allowed/adjusted amounts, denials information, deductibles, co-insurances, co-payments if any, etc. Once you receive the EOB from the insurer our resources do not just key in the mentioned details into your billing system rather go through it carefully and analyze it to identify payment and other related patterns like the percentage of insurance receivable, frequency of inflows, denials, amount outstanding percentage, etc., and then record it.
Once we establish the payment receivable patterns, we immediately send out the necessary action chart to the respective billing departments to take necessary measures to increase the inflows. For instance, if there is a difference between the allowed amount and the payment amount, then balance payable amount will become the patient's responsibility. The EOB clearly states as to why the balance need to be paid by the patient, in cases like co-payment, deductibles or co-insurance or uncovered insurance. O2I immediately passes out this information to the billing department which helps them to collect the outstanding receivable from the patient easily and swiftly. Read an article on 6 effective ways to collect patient balances.
We keep a real-time track on the outstanding amount receivable and the cash inflow status so that the rate of cash inflows can be easily accessed, and necessary actions can be taken to improve the cash flows.
Accurate claim posting depicts your overall billing efficiency and infrastructure, and sorts out reasons for low inflows, if any. This would invariably help in improving the overall billing system right from converting the physician billing into a charge entry, to preparing a manual or electronic claims submission, and the final cash posting.
Once we look at the rate and nature of denials we immediately utilize our denial management expertise to fix the issue and bring down the denials to the lowest.We ensure that all the steps of the medical billing process run smoothly which will help in speeding up the denial management process.
We clearly understand that cash payment entry is not a mere claims data entry job, and involves domain expertise and work experience to ensure that accuracy of information is maintained, and most importantly, proper analysis is done by the resources involved.
Being a leading payment posting for medical billing company, we believe in providing high-quality services within a quick turnaround time. This is possible by leveraging a streamlined and systematic process. The key steps involved in our payment posting process are -
Payment posting from Explanation of Benefits (EOBs) to patient account
Analysis of the EOBs for underpayment or over-payment
Indexing of EOBs to patient account
Reconciliation to match payment posting to actual deposits
We have a highly skilled team of resources who have access to the latest tools and technologies. Some of the tools and technologies we have expertise include:
Outsourcing payment posting for medical billing services to us can give you access to a series of benefits which you can take advantage of. Some of the key reasons for you to choose us include -
O2I provides a reliable and efficient medical billing service. They have helped improve collections and lower receivables for my clients.
Founder & CEO, Billing Company in the east coast More TestimonialsHaving worked with clients from around the globe for so many years, we have had helped several clients achieve their business goals within a short time. Some of our success stories are listed here -
A leading Maryland-based company was looking for a reliable medical billing service provider. Outsource2india provided the services within a quick time.
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A leading client was looking for a partner who could provide them with full-service medical billing services using the Medisoft software. Our team provided the services within a quick time.
Read more »If you are running a healthcare center, or a claims processing service center, or just looking for an offshore medical billing service provider with a wide experience in all aspects of medical billing, O2I's healthcare posting solutions can save your day. Especially, so if your primary concern is the capability of your outsourcing partner to handle hospital claims or medical billing claims faster, Outsource2india is the company of choice for effortless payment postings.
Customer-oriented healthcare outsourcing is our forte. Get in touch with us
Decide in 24 hours whether outsourcing will work for you.
Have specific requirements? Email us at: healthcare.info@outsource2india.com
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