In today’s scenario, hospitals, group medical practices, and clinics facing a lot of challenges every day – under this, to process a large amount of EOBs or remittance paperwork on a daily basis which accompanies the payments received from insurance payers. On average, more than 20% of the medical payments today are keyboarded manually due to the inability of payers to provide electronic remittance advice back to the providers. This process is significantly called as payment posting and inaccurate accounting will end up in the adverse outcome.
We provide the following types of remittance processing:
Electronic Remittance Advisory (ERA):
ERA remittance typically contains a high volume of payment transactions. We process ERA batches by loading the files into the revenue cycle system, process exceptions from the batch runs by making due corrections to the ERA.
Manual Payment Posting:
We capture payment information from scanned images of Explanation of Benefit (EOB) documents and post each line item into the respective patient accounts.
Our experienced techies are conversant with denial codes as well as the remark codes used by different payers. We post denials into the customer’s practice management system and take actions such as billing the secondary payer and transferring the balance to the patient account.
Posting Patient Payment:
Patient payments should be accounted for in order to properly close the claim and avoid any inflated AR. We have extensive experience in processing payment received from patients via different channels like POS cash collections, cheques and credit cards (patient portals).