Payment Posting Services
24/7 Medical Billing Service helps medical practices improve productivity with great payment posting solutions. It helps to streamline and automate the payment process which is achieved by posting insurance payments automatically via ERA and insurance checks with EOB. So, whether you have thousands of EOB’s or lock boxes, we ensure that all the payments are posted on time.
Importance of our payment posting services:
Payment posting helps to mark the end of billing cycle which will spawn other procedures that need consistent attention along with right action. We will offer accurate and quick payment posting services to make things simple for you.
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Our payment posting services is supreme because
- We post claims accurately that highlights overall billing efficiency and analyzes reasons for low inflows
- Depending on rate and nature of denials we implement our denial management expertise to sort the problem and bring down the denials
- We have the domain expertise and experience to maintain the accuracy of information
- Easily read and analyze EOB where EOB consists of patient’s name, account numbers, service dates, billed amount or adjusted amount, denial information, etc.
- Use EOB proficiently to understand why a patient need to pay the balance in cases like uncovered insurance, deductibles and co-insurance.
We also post payments with ERA (Electronic remittance Advice) that helps to simplify reconciliation of patient accounts. It also helps to explain about the payment and adjudication of the medical claims.
Why choose 24/7 Medical Billing Services as your partner?
- Before recording we go through the details carefully and identify payment and other patterns like denials, frequency of inflow, etc.
- Depending on payment receivables and patterns, we communicate the action plan to billing departments for taking important measures to enhance the inflow
- Payments received through ERA and EOB will be posted within 24 to 48 hours on the system
- Reports are reconciled on a daily/ weekly/ monthly basis
- In case of denials, these will be captured and transferred to denial analysis team
- Get all available information in real time
- Adjustments and denials are adjudicated appropriately that helps patients understand their payment responsibilities.
We will also run two levels of quality audit to make sure that the process meets the international standards. We track the outstanding amount receivables and cash inflow status so proper actions can be taken to improve cash flows. Refunds, unapplied or overpayments are worked separately on a weekly basis and communicated to the practice.
We constantly watch for insurance allowed amount and make sure the practice doesn’t lose on collections. So, when the payment received is not matching the claim amount, we immediately take action and the difference is patient’s responsibility which is submitted again to the insurance carrier. Depending on the parameters provided by our clients we handle the adjudication or contact the insurance company to understand the reason for non payment.
We share the month end reports with the client after the financial data is closed and secondary and patient responsibility are send on weekly, daily or monthly basis to improve collections. So, taking our payment posting services will help to post the payment accurately in the system and streamline your practice workflow resulting in maximum productivity.