In revenue cycle management – payment posting is a vital part in medical billing services. It assists providers get a reasonable price quote of reimbursements patterns and also total financial standing. In addition, it benefits in dealing with denials in one of the most efficient methods. It is due to these reasons that it is essential to have a reliable payment posting service in place.
7 Virtual Assistant Services has over 8 years of experience in providing cost-efficient as well as trusted payment posting services to medical professionals of all types and sizes. We ensure our clients quick turnaround time with the help of a distinct posting process. Our clients, which includes medium and big hospitals and tiny and also mid-sized medical professionals rely on our competence to precisely prior insurance repayment information from ERAs, EOBs, and also patients’ payment posting. We follow the very best payment posting methods and information safety required to meet your business requirements as per industry standards.
Payment Posting Process - End-to-End WorkFlow:
Our payment posting process in medical billing services is based upon couple of distinct actions that help our customers to pick out patients duty, to balance outstanding payments, take action of refunds and write-off dues etc.
Verify Payment Information
Carefully validate every minute patient information’s pointed out in EOB (Explanation of Benefits) such as billed amounts, adjust and allowed amounts, denial details, co-pays, and so on.
Payments of Patients
We get in all payments made by patients in the kind of checks or money or bank card as co-pays or deductibles for solutions not covered by payers.
Difference between Eob And Era
We get remittance recommendations electronically, evaluate them as well as payment postings straight. We promptly sort paid and overdue ERAs for less complicated accounting.
Typing in information of a particular claim in particular patient accounts to integrate them. We lug this out based on client-specific rules.
Posting denial claims as well as move the balance to patient accounts or re-billing to second insurance company.
Cash Flow Analysis
Payment posting in RCM includes the ancillary obligation of helping a method maintain appropriate track of their cash inflow. As a prominent payment posting company, we help you to monitor and also track all outstanding amount of account receivables ASAP. While doing so we enable you to keep a tab on cash inflows as well as launch activities to get rid of all bottlenecks to cash inflow.