Billing Challenges:
3 Steps Help Improve Your Collections by Finetuning Your A/R Process
Published on Mon Jul 11, 2011
Be diligent with denial follow-ups, or risk leaving money on the table.Economic uncertainty and looming healthcare changes means that every physician practice is under more pressure than ever to collect every deserved penny. The good news is that you can refine your accounts receivable (A/R) process quickly and easily to bring in the money without a lot of extra effort.Definition: "Accounts receivable (A/R) is the money that is owed to the practice," explains ElinBaklid-Kunz, MBA, CPC, CCS, a director of physician services in Daytona, Fla., during The Coding Institute's audioconference "Top A/R Tactics: Fight Back Against Lower Payments and Increased Government Scrutiny." Follow these three best practices to set your practice on an improved A/R track and avoid thousands in lost reimbursement.1. Monitor Each and Every ClaimThe first step in perfecting your A/R process is to make sure someone in your practice is paying attention to what happens to every [...]
