Aging accounts receivable (AR) can be a major headache in your medical practice.
In medical offices across the country, we see that the longer medical bill ages, the less likely it is to be collected. Patients might forget about the bill or feel less connected to the services rendered, resulting in nonpayment. Or, filing windows for insurance reimbursements are missed and your hard-earned money goes uncollected.
Medical practices should strive for an average of 30 Days for AR aging. The reality is that most average 35-45 days, which can negatively impact your cash flow.
If these challenges are all too familiar in your practice, you’re not alone. We understand that often billing staff doesn’t have the time to do it all and stay on top of every account. They often have to make choices whether to use their time to post claims or review claims – and they choose focus on posting claims to keep cash flowing. Common obstacles like patient collections and navigating Medicare/Medicaid can also contribute to aging AR.
That’s where Med3000 comes in. We go after every penny your practice earns, to help keep you profitable.
Our billing specialists have existing provider relationships, so they’re able to stay on top of reimbursements are are experts at overcoming insurance denials. We can efficiently handle your insurance billing needs and ensure your practice gets paid!
If you’re looking to get your practice’s AR in shape, are transitioning between billing specialists or just want to learn more about how you can improve, contact us today to learn more!