Old AR Recovery
We offer Old AR Recovery service as a stand alone option to help small medical practices, multispecialty hospitals, medical billing agencies and freestanding ERs to collect on aged receivables that are within Re- File/Appeal limit. Our dedicated Old AR Recovery team Investigate, evaluate, Analyze, Fix errors, resubmit and follow-up on all aging claims to ensure no stone is left unturned to collect the uncollectable. This way you see a reduced collection accounts and Increased revenue.
- Aging AR Report Access
- Claims prioritization for Follow-Up
- Analysis and Resubmission
- Cash Posting
- Patient Statement Generation
- Old AR Clean Up
- Recommendation to enhance your AR management system
Step 1: Aging AR Report Access
The Initial step is to get access to your Billing software to run the Old AR report. Or the provider can provide us the Old AR report in a spread sheet.
Step 2: Claims prioritization for Follow-Up
The Old AR report is analyzed and the priority is fixed based on the Timely filing limit and the Dollar value Instant action is taken on crucial claims that are nearing the Filing or Appealing limit Claims with High dollar values are prioritized in each bucket and the follow-up is initiated with the appropriate insurances.
Step 3: Analysis and Resubmission
Aggressive follow-up is made to obtain the status on all outstanding receivables Each claim denial / rejection is analyzed to understand the reason for no payment. The coding errors and claim errors or any other discrepancies are fixed and claims are resubmitted to the insurance carriers. Resubmitted claims are followed-up after 15 days from the transmission date
Step 4: Payment Posting
Once the payments are received, it is posted into the respective patient’s account to balance the outstanding collectable.
Step 5: Patient Statement Generation
Patient responsibility is posted as per the EOBs and the account is moved to the patient bucket The patient statements are generated in the clients billing software as per the protocol.
Step 6: Old AR Clean Up
Claims that exceeded the Timely Filing limit, Appeal limit and claims that are uncollectable are filtered Reasons for unable to collect is detailed and sent to the client, requesting approval for taking Write-Off.
Step 7: Reporting
A customized report explaining the status of each claim is generated and sent to the provider Reports provide more clarity to the provider on receivables and non collectables
Step 8: Recommendation to enhance your AR management system
Coding, documentation, cash-payment posting and even operational errors are discovered during Old AR Recovery process. Our Old AR recovery experts provide recommendations to improve the practice collections on receivables Providers can use this opportunity to course correct the processes to reduce future claim errors, rejections