Payment Posting Services
High-precision payment posting services
The payment posting process, not only provides insight into the effectiveness of your revenue cycle, but also allows you to analyze reimbursement trends and perform analytics. The need for a highly efficient team to process payments is of utmost importance considering the clarity it provides on your revenue cycle.
Our Payment Posting Process
We believe that attention to detail, data input accuracy and following client specifications are essential to successful medical billing and efficient cash flow management. Scribe4Me offers high-precision Payment Posting Services tailored to your requirements while upholding industry best practices and standards.
We provide the following services:
Patient Payments: Our clients send us receipts of point-of-service payments made by patients on a daily basis. These payments, which may be for co-pays, deductibles, or non-covered services, are made using cash, check, or credit card. This information is reviewed by our payment posting specialists and adjusted against each patient account.
Insurance Posting
Electronic Remittance Advice: This auto posting system is generally useful for medical practices that deal with a large number of claims every day. We receive ERAs from payers and process them in batches by importing them into the practice management system. Batch processing allows for making any corrections and transferring balances to secondary insurers. Each batch run generates exceptions and we correct the same along with verification of batch totals.
Manual Posting: Some of our clients send us scanned EOB batches either through secure FTPs or through the EHR system. Our experts then manually do the posting into the system, based on client-specific rules. Batch processing allows for proper accounting and ensures accurate payments, write-offs, adjustments and balance transfers to secondary insurance companies or patients.
Denial Posting: Posting a claim denial is crucial to get an accurate picture of the actual A/R balance. Payers often send back denied claims with ANSI codes for denials and occasionally with payer-specific guidelines. We have expertise interpreting ANSI standard denial codes as well as payer-specific denial codes for the majority of payers. Every time a claim is denied, we make a note of it in the practice management system and then take the necessary steps, to rebill the secondary insurance company, transfer the patient the remaining balance, write off the amount, or send the claim for reprocessing.
Benefits of our Payment Posting process
High Quality: Our accuracy rates are close to 99% despite our contractual guarantee being at 97%, this can be attributed to our highly-experienced team
Responsiveness: We provide a dedicated account manager and team for each of our clients ensuring a guaranteed turnaround time of 24-28 hours.
Accurate understanding of the A/R cycle: Accurate payment posting gives you a clear picture of your accounts receivable, helping you make informed and better decisions.
Analytics: We create reports on A/R trends in order to:
Exception processing: We uphold your business policies and notify you of any significant trends, contractual adjustments, or denials.
Benefits
Revenue Cycle Management
Are you a healthcare provider under increased pressure to focus on providing care as well as maintaining financial viability? Do you feel overwhelmed with administrative and financial responsibilities? Feel like you are losing pace on follow-ups for efficient collection? Are you short of trained experts to handle the complex maze of RCM? Scribe4Me is here to help you.
Insurance Eligibility Verification
The first and most important step is to determine the patient's eligibility and insurance coverage. People often tend to forget to renew their health insurance policy annually. And insurance companies are in no way responsible for payments covered under the plan during the period of lapse. As a result the patient has to pay for the services out of his own pocket. What if the patient is reluctant to pay the bills?
Medical Coding
Medical Coding quality holds the key to accurate reimbursements. Scribe4Me has perfected the art of creating accurate and clean claims on the first go. We have a team of AAPC certified, trained medical coders who are proficient in coding rules and can provide accurate and complete coding necessary to optimize reimbursements.
Charge Entry Services
Accurate charges are crucial for claims to pass through the first time and Scribe4Me does it right, each time.It has been stated by insurance companies that 4 out of 10 claim denials are due to clerical errors. Charge Entry is a process of entering medical data to enable claims processing. At Scribe4Me we follow a well-structured Charge Entry Process and ensure that relevant checks are made at each level of the process.
Claims Transmission
Scribe4Me undertakes to do an EDI set-up for those medical practices that wish to get-off paper transaction claims and switch to electronic data interchange (EDI) for claim submission. Submission of the claims through EDI reduces the chances of inaccuracies and errors. Your claims will reach the payer instantly resulting in quicker reimbursements and eliminating claim processing delays.
Accounts Receivable Management
We at Scribe4Me understand that Accounts Receivable is an important part of cash flow and requires rigorous follow up. That is why we have a streamlined system in place to control and manage your practice's accounts receivable and recovery. Simply trust the experts for efficiency, and we assure you that all the medical services provided by you will be paid for, fully and promptly.
Denial Management
Scribe4Me helps recoup revenue and maximize reimbursements Denial of medical claims is one of the major issues faced by physicians. Scribe4Me's Denial Management service is designed to perform a root-cause analysis, identify the reason for the denial and take action to resolve it. Most importantly we implement process improvements to stop recurring denials in its tracks.
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