Accounts receivable management was not too important and was somewhat limited years ago. However, today provider officers are aware of the importance of having a great accounts receivable management system. It increases cash flow, enhances patient satisfaction and overall, makes the office run so much smoother. As such, it is one of the most important skills of medical billing companies.
An accounts receivable expert from a medical billing company can do the following:
• Have complete data on insurance rejections
• Monitor the A/R payment periodically
• Communicate with alternative departments frequently
• Follow up on documentation of claims before the crucial closing date