Accounts Receivables Process
Accounts Receivables process ensures that companies receive their payments within a particular time frame, enhance their collection rates, and process invoices more quickly, contributing to their income. It also includes an examination of insurance contracts to ensure that healthcare providers are adequately reimbursed.
A successful insurance model enables healthcare companies to and quickly recover past-due payments from insurance carriers. That is where accounts receivable (A/R) follow-ups come in medical billing. It assists healthcare service providers in running their practices effectively and successfully while ensuring that the owing cash is reimbursed as soon as possible.
Sometimes it can be hard to focus on your investment and make sure you receive money from patients and insurance companies, and you submit the correct forms, and your system works as appropriate. That is why an accounts receivable services company is the best option for busy schedule hospitals, clinics, and healthcare offices. The principal purpose of accounts receivable management in healthcare is to maximize cash flow into the medical business by reducing the collection timeframe and associated expenditures.
Why Outsource Accounts Receivable Services
Today, many medical providers find their medical practice growing in their monthly expenses but are not attaining the same progress in their reoccurring cash flow. Unless exact and regular active accounts receivable follow up on the current billings is started, it is common to find a provider with excessive amounts in medical accounts receivable that are greater than 180 days outstanding.
Usually the volume of unpaid claims and the time it takes to research, correct, appeal, and re-file the claims will take much longer than estimated. A limited number of staff dedicated to this task will not be able to accomplish the goal, which is to extensively reduce/eliminate the outstanding accounts receivable and collect as much money as possible in a short period of time.
Why Choose Kings Alliance to Outsource Accounts Receivable Services
The medical accounts receivable program offered by Kings Alliance overcomes the problems that basically delay the collection efforts by the individual providers. Kings Alliance follows these accounts by assigning a full team of individuals. That are dedicated to resolve the unpaid claims in the minimum time possible. We utilize experienced, well-trained individuals in the medical billing process as our collectors. Most of these employees have years of experience in medical coding and collections.
Companies must have an efficient and smooth Order-to-Cash cycle to maximize their cash flows and collection operations. Kings Alliance transforms end-to-end accounts receivable management by optimizing cash flows, lowering past-due receivables, and assisting in identifying revenue leakages and refilling gaps.
Our employees collaborate closely with insurance companies to manage collection activities effectively while maintaining client relationships. Our Accounts Receivable Solutions are comprehensive while being entirely adaptable, allowing clients to select the entire bouquet of services or begin a new assignment with a subset of processes, business units, or locations. In addition, we make sure that our customers do not face any issues in receiving the payments for their services.