Ring in Better Rewards in '09 With These 3 Don't-Miss Tips-#1:
Save Hundreds With These A/R Best Practices
Published on Tue Mar 03, 2009
Tip: Assign each biller a list of payers to contact every month. Effective accounts receivable (A/R) management is one of the biggest keys to ensuring your practice receives the reimbursement you-re entitled to. If you aren't monitoring your A/R and following up on unpaid claims, then you could be costing your practice hundreds. Reports Are Key to Evaluating A/R You can't manage what you can't measure, so you need to produce a variety of reports to help you evaluate your A/R, says Reed Tinsley, CPA, CVA, CFP, a healthcare accountant and consultant based in Houston, Texas. Tip: Invest in a good practice management system, and learn all of its capabilities. "Any system can bill, but can it help you collect?" Tinsley asks. Pay special attention to the reporting abilities of the system you use to be sure you get the data you need to manage your practice's A/R, such as [...]