Maximize Revenue with Accounts Receivable Recovery Services
< 30
Days in AR
10-15%
Revenue Increase
97%
First Pass Ratio
96%
Collection Ratios
98%
Clean Claims Rate
Our Healthcare AR Recovery Services
Turn your unpaid claims into immediate cash flows! Financial stability is important for all medical specialties. However, it can only be achieved through the prompt submission of clean claims. Unfortunately, claim denials and unpaid services are a significant part of the billing process, leading to many practices’ financial struggles.
So, for how much longer are you going to ignore your unpaid claims? MediBill MD’s AR recovery services systematically resolve all the issues affecting your practice’s cash flow. From identifying unpaid claims to correcting and resubmitting denied claims, we maximize your revenue by collecting all the outstanding payments. Our old AR recovery services include
Patient AR Recovery Service
We increase your practice’s profitability! At MediBill MD, we help you collect copayments from your patients. Our patient AR recovery team makes sure that you receive compensation for your services without impacting your patient relationships. This includes sending them detailed statements and following up with courteous calls.
Insurance AR Recovery Service
We address your unresolved insurance claims! Our insurance AR recovery services help you reclaim unpaid services from payers. We manage and resolve all your outstanding claims by meeting every insurance requirement. This includes reviewing your ledger, correcting issues such as ‘unpaid’ status for paid claims, identifying denials, filing appeals, and posting payments. Our team focuses on minimizing payment delays and maximizing your revenue.
Why Choose MediBill MD for Old AR Recovery Services?
Choose a headache-free method to recover your lost revenue! The healthcare industry is plagued by changing insurance policies and unpaid services. Many specialties struggle between a high volume of medical claims and varying requirements, leading to billing errors and high denial rates.
If your claims are also being denied, choose a trustworthy AR recovery company like MediBill MD to reclaim them. We specialize in both insurance and patient AR recovery. Our team uses an advanced system to handle complex issues and reduce billing errors. So, instead of rushing through your financial tasks and ignoring denied claims, pick us for the following reasons:
Work smarter! At MediBill MD, we offer efficient solutions to recover your revenue. From collecting payments from insurance companies to managing patient obligations, our AR recovery services guarantee a 96% collection rate.
Trust the experts! At MediBill MD, we bring unmatched experience to your table. Our AR recovery team analyzes your requirements and provides necessary services to collect outstanding amounts, including making follow-up calls and correcting and resubmitting medical claims.
Don’t ignore your denied claims! At MediBill MD, we don’t let anyone settle for anything less than they deserve. Our proactive approach to reviewing all claim denials and taking necessary corrective steps, including follow-ups, significantly improves cash flow. We speed up your collection process by reducing AR (accounts receivable) days.
Maintain a positive relationship with your patients! At MediBill MD, we tailor our approach to each patient’s circumstances. Our team effectively communicates payment policies with your patients. This includes providing easy-to-understand billing statements with proactive follow-ups to remind them about their payment responsibilities
Receive quicker payments! At MediBill MD, we guarantee quick recovery by sorting out your billing errors. Our seasoned AR specialists follow an efficient process to identify and resolve your outstanding claims on time. We use cutting-edge technology and maintain consistent follow-up to minimize the recovery time.
Our AR Recovery Process
AR recovery and management are a time-consuming process, often involving several steps. We understand that medical practices don’t have the time to contact every insurer and patient to collect their dues. Therefore, we act in your stead and handle all aspects of patient and insurance AR recovery. Here is how our recovery process helps you avoid bad debts – unrecoverable billing amounts.
Initial Review
We start with a comprehensive review! Our AR team systematically analyzes your billing records to determine your current standing. This step sets the stage for our recovery process and helps us identify all the outstanding claims and unresolved problems.
Problem Identification
Next, we identify what exactly is holding back your cash flow. Our team conducts a detailed analysis to determine the reasons for unpaid claims and outstanding balances. This includes reviewing your claims’ status, analyzing claim denials and billing errors, and verifying payment terms and insurance coverage.
Suitable Corrective Steps
We start with a comprehensive review! Our AR team systematically analyzes your billing records to determine your current standing. This step sets the stage for our recovery process and helps us identify all the outstanding claims and unresolved problems.
Regular Follow-Up
We start with a comprehensive review! Our AR team systematically analyzes your billing records to determine your current standing. This step sets the stage for our recovery process and helps us identify all the outstanding claims and unresolved problems.
Resolve your old AR accounts with our help no matter where you are! At MediBill MD, we provide financial support to numerous practices throughout the country. Our AR recovery services are not limited to specific ZIP codes or specialties. So, whether you own a practice in a busy downtown area or a small suburban neighborhood, contact us to collect payments from insurers or your patients.
We provide unparalleled, round-the-clock support to every specialty, including orthopedics, pediatrics, OB-GYNs, and more. Our customer representatives are always available on the call to address your issues. So, whether you have a complex problem or a simple query, talk to us today to get the help you need to manage your AR recovery.
Lowest Prices Guaranteed
Recover old accounts receivable (AR) at extraordinary rates! At MediBill MD, we offer pocket-friendly services, making it easier than ever to reclaim what you deserve without breaking the bank. Contact us to learn more about our prices.
Our results speak for ourselves! MediBill MD is a well-trusted name in the industry. Our healthcare billing specialists optimize the revenue cycle of over 300 verified practices.
Get In Touch With Our AR Recovery Expert
Get the desired financial outcomes in the shortest possible time! Get in touch with our seasoned AR recovery experts to prevent your old accounts receivable from turning into bad debts.
FAQs
Our AR recovery services add value to your business by not only recovering your revenue but also by reducing your administrative burden. We address claim denials, correct billing errors, and proactively follow up on unpaid claims to collect every dollar you deserve. In short, we improve the financial position of your practice.
Our AR recovery services are valuable to all healthcare providers, including small clinics, large hospitals, private practices, rehabilitation centers, and diagnostic labs.
We cannot guarantee a fixed duration for every AR recovery process. The typical length of our AR recovery process highly depends on the volume and complexity of your outstanding claims. However, we usually try to resolve most issues between 30 to 60 days.
Our turnaround time for submitting claims typically ranges from 7 to 14 days.
You should consider the following factors when choosing the best AR recovery service:
- Track record of a company (their achievements)
- Customer reviews
- Industry experience
- Security (compliance with HIPAA regulations)
- Price and transparency
- Coding certifications
- Customer support
An AR or accounts receivable caller is a professional who follows up with insurance companies and patients on outstanding balances. In simple words, an AR caller contacts different payers and patients to inquire about unpaid claims and overdue payments.
AR days in medical billing specify the average time it takes for a practice to collect outstanding bills from payers after the submission of medical claims. Higher AR days suggest payment delays, while lower days indicate prompt collections.
AR follow-up in medical billing involves regularly checking the progress of outstanding claims with insurance companies. This process typically includes contacting patients and insurance companies to inquire about overdue payments and the status of unpaid claims, addressing claim denials, and providing supporting documentation required by payers.
