Payment Posting and Electronic Remittance Handling

medical billing service company-Medphine

“Accurate charges are the key factors in attaining clean claim submission goal!”

Medphine offers Payment posting and Electronic Remittance as a part of Revenue cycle management services and also acts as a standalone service depending on client’s requirement. Our team of experts has vast experience in handling a wide range of medical software such as clinical Works, GE Centricity, Care Cloud, Korea and many more.

Payment posting is yet another crucial process of billing that is laborious and time consuming. A practice might receive hundreds to thousands of EOBs or ERAs on a daily basis.These payments should be efficiently posted into the system so that the account receivables report shows prompt financial status of a practice at any given time.

Moreover, proper payment posting ensures that the balance is applied aptly. The complete AR cycle depends on the accuracy and timeliness of payment posting. Piles of EOBs in a practice can harm the revenue cycle dramatically.

 

Advantages of outsourcing payment posting:

  •  Free the in-house staff from laborious and time consuming task
  • 99% accuracy in payment posting
  • Efficient revenue cycle and appropriate financial reports
  • 24 hours TAT time ensures timeliness
  • Patient’s responsibility are transferred promptly
  • Improper payment of claims is detected and sent for review

How Medphine will do it?

 

  1. Paper EOBs can be scanned and mailed; while ERAs will be retrieved directly from the application.
  2. Payment details are posted into the practice management application using the secure ID and password provided through remote desktop connection.
  3. Denial codes and special scenarios are explained briefly in system notes for denial follow up.
  4. Patient’s responsibility is applied to patient’s account, or the balance is billed to secondary or tertiary payer as applicable.
  5. Quality assurance team tallies the total payment details for the date and ensures all the figures are precise and 100% accurate.
  6. Printed EOBs are shredded or destroyed under supervision and client is notified about the update.

Medphine provides fast and accurate payment posting solutions which accounts for 40% savings on time and allows in-house staff to focus on more productive functions such as customer engagement. Call us today to book a call back and get more details, our number is 732-419-2907