Account Receivable Process and Management Services Offered By a Team of Professionals
All health care providers own a remarkable asset i.e. accounts receivable process and management services because without this management system no health care organization is completed. To accurately manage all your accounts receivables and recovery, a systematic and streamlined system that would control all your accounts is required, so in this case a very fast and effective way is to outsource all your health care accounts receivables to Magnet Medical. It can give you an easy access to the solutions with quality and productivity at very economical prices.
Magnet Medical is one of the top offshore organizations situated in India who provide high class account receivable management services . With us you will be able to achieve all main objectives to recover your funds expeditiously along with reorganizing and training the staff to carry on all the operations such as working on insurance denials and claims as efficiently as possible
During the past few years, Magnet Medical Coding Solutions has helped medical practices recover hundreds of thousands of dollars from insurance companies in "lost" reimbursements and denials. This service is ideal for medical practices that do not want to outsource their entire billing but only recover their old account receivables
Some of Our Accounts Receivables and Denial Management services are:
- Insurance Follow up - We have an expertise in generating Aging report from the billing system, segregating it by top payers, analyzing accounts with each claim and as a result, the outstanding claims are re-billed to the respective insurance companies with the correct actions and tracking with follow up until it gets reimbursed from the payers.
- Denial Management -We track all the denial management services and denied claims by generating Payer wise denial status code report and analyze the complete reason behind each denial so that permanent fixation for the claim rejections are considered. Apart from this check on these claims is also track until it gets paid. It helps us in identifying the gaps across the billing process and fixing the errors safely. Our staff monitors the payment pattern from different payers and set up an alert mechanism when deviation occurs.
- Appeals for Denied Claims - With Magnet Medical Coding Solutions, you will get a standard appeals process. Every claim that needs to be appealed are thoroughly reviewed under filing limit and taken care by our team. Appeal letters are prepared with supporting documentation and kept in the shared folder for the client’s approval.
- Patient Follow up - We do a systematic follow up with patient’s in order to obtain the missing patient’s information, insurance information and discussion regarding his or her outstanding collectibles. We have a dedicated in bound telephone number for answering the patient calls. Our experienced staff keeps tracking the patient bills and follows up with each patient till the balance cash is received.
- Old Accounts Receivable Clean-up Projects - In this process, we work on your old accounts receivables accumulated either by any back logs, unresolved or uncollectible balances left by your previous vendors. Once we receive the raw report from our client, we analyze and come up with a strong action plan in addressing the old collectibles and share the same with our client. Post approval from our client, we deploy our experienced staff and prioritize the old Account Receivables based on collection strategies and ensure quicker resolution of the claims. We share a secure report with our client highlighting the progress we are making in the old accounts receivable collections.