List of Common Problems in AR Follow-up

AR Follow-ups in Medical Billing

One of the major mistakes that Providers and healthcare facilities make is to neglect the AR build-up and focus more on billing the incoming claims. The abandoned AR will be converted into hard cash only if there is a prompt follow-up. Else, the revenue cycle management is going to be greatly affected by the consequences. Providers and healthcare facilities have to put their 100% effort because of the new medical reforms and there can be no room for errors while processing the built-up account receivables. Therefore, AR follow-ups in medical billing are crucial and a dedicated team should be formed to handle them. This article lists the most common problems that occur during AR follow-up and emphasizes how medical billing outsourcing is the right solution:

  • Patient Collections Follow-up: It is estimated that more than one-quarter of the healthcare industry’s revenue comes from patients. Patient collections are one of the problems that can hinder the AR follow-ups in medical billing. Therefore, it is crucial to have a good patient-provider relationship. Also, patients should be made aware of their financial responsibilities before offering medical services. The front office must explain patients’ insurance benefits and what services are covered in-network. A dedicated team should keep track of the patient’s debts and collect them promptly. Frequent reminders can be sent to patients if they fail to pay.
  • Lack of a Collections Culture: Providers and healthcare facilities should implement and follow a proper collections culture. Its lack can cause huge problems in AR follow-up. A dedicated team should be formed and provided with the necessary tools and training to perform exceptional AR follow-ups in medical billing.
  • Write-offs Affect AR Follow-ups in Medical Billing: Not all write-offs are necessary! The AR follow-up team must understand it and review all accounts before considering them as a write-off. Receivables will significantly improve if each overdue account is evaluated properly. Some important steps to follow are assigning managerial approval for certain write-offs, tracking the patterns of write-offs, determining and taking control over your practice’s write-off rate.  
  • Lack of AR Management: This problem should be addressed as early as possible. A good team should be employed with advance training in AR follow-up. Checking the bank accounts now and then will help providers identify any errors or fraudulent activities. Managing these minor problems will enhance cash flow. Medical billing outsourcing is an excellent choice to consider as Medical billing companies manage AR follow-ups efficiently.
  • Payment Methods: Healthcare facilities should offer different payment methods for patients to choose from. It will help patients pay dues through their desired payment method. If they have a restricted payment method like ‘only cash’, then it is not practical and collections will be affected.

Medical Billing Outsourcing: The best way to overcome the hurdles of AR follow-ups in medical billing is to outsource them to reputed billing companies. Right from appealing the denied claims to cleaning up the AR build-up, these companies will take care of everything promptly at low costs.

About MGSI:

If you are on the lookout for the most experienced AR follow-up company in the US, then consider partnering with MGSI. This medical billing outsourcing company offers the protocols, expertise, and resources necessary to perform a comprehensive collection effort. Its successful cash recovery program will improve your revenue greatly. Based in Florida, MGSI is an A+ rated company with Better Business Bureau. To learn more details, log on to www.mgsionline.com.