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Hospitals and practices provide a large number of services to their patients on a daily basis and in turn are paid for these services by the patient or the insurance company. Managing your practice’s accounts receivable is one of the most important and critical parts of running a healthcare organization. Till some time back, account receivable management or Revenue Cycle Management was treated as a mere departmental activity. However, with increasingly complicated processes of working insurance claims, appeals and denials, identifying financial eligibility, payment monitoring and overall patient follow-up, in-house staff find this overwhelming amount of tasks not just time-consuming but also something that is prone to errors. The declining rates of reimbursement, higher patient deductibles and an increase in business operating costs adds to the challenge.

MedConverge works with you to analyze denied claims, partial payments and non-payments. Correcting and re-submitting an incorrectly submitted claim, communicating constantly with the patient and the insurance companies, MedConverge ensures that your accounts receivables are managed efficiently.

MedConverge accounts receivable follow-up services include:

  • Thorough management of all account receivables with patients and insurance companies.
  • Follow-up calls with patients at times that are most convenient for them.
  • Collectability scoring to determine a patient’s likelihood to pay.
  • Time-tested process for collecting and following up with patients based on their collectability score.
  • Easy identification of financial aid or charity care eligibility.
  • Skip tracing to verify patient address/contact information.
  • Advanced healthcare technology incorporation and full HIPAA security compliance.
  • Insurance resolutions, such as denials, appeals and Medpay.

Case Study on how MedConverge assisted a cardiology practice in reducing accounts receivables by $80,000 within four months.

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