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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
Unpaid claims can leave a significant amount of revenue tied up in your accounts receivable. Aging balances, unresolved denials, payer delays, and overlooked claims make collection estimations harder.
Growing ARs without a clear recovery strategy increase the time required for follow-ups while cash flow is unpredictable
With MediBillMD, outstanding ARs make sense and recovery efforts can be made where they have the greatest financial impact.
Total AR Inventory Evaluation
A scattered AR translates to a longer duration reviewing overdue, underpaid, or denied accounts. In other cases, it could mean awaiting payer action. Practices can get their AR inventory reviewed to receive a clearer picture of balances.
Recoverable AR Identification
Some accounts have a viable path to payment, while others may have limited recovery potential. We separate the AR worth pursuing from low-value or difficult accounts, helping your team focus its efforts on claims with a stronger chance of collection.
Recoverable Revenue Estimation
A large AR balance does not necessarily mean the same amount is collectible. We estimate the revenue that may be recovered from eligible accounts, providing a more realistic view of the financial opportunity within your aging AR.
FREE AR Analysis
Without an AR analysis, it is difficult to identify the actual source of revenue leakage. Our FREE AR analysis identifies collection gaps, potential recovery opportunities, and aging trends to give you a clear picture of your receivables.
Why Choose MediBillMD 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 MediBillMD 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 MediBillMD, 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 MediBillMD, 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 MediBillMD, 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 MediBillMD, 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 MediBillMD, 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.
Old AR involves more than following up on unpaid claims. Instead, accounts need to be corrected, resolved for denials, appealed, and followed up before payment can be pursued. Our experts at MediBillMD handle AR cleanup and recovery, addressing underlying claim issues while collecting eligible outstanding revenue.
Our AR Recovery Process
AR recovery and management are time-consuming processes involving several steps. We understand that medical practices don’t have the time to contact every insurer and patient to collect their dues. We handle all aspects of patient and insurance AR recovery. Here is how our AR recovery process helps you avoid bad debts and recover outstanding receivables.
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
After identifying the primary issues, we take suitable corrective actions. This includes posting payments in the system, filing appeals, resubmitting corrected claims, and sending billing details to patients. MedibillMD addresses the issues preventing payment so eligible revenue can move toward collection.
Regular Follow-Up
Finally, we conduct regular follow-ups on outstanding balances to speed up the recovery of your accounts receivable. We track appeals, follow up with insurance companies on unresolved claims, and contact patients to remind them about their billing responsibilities. This proactive approach keeps outstanding accounts transitioning toward recovery.
Resolve your old AR accounts with our help no matter where you are! At MediBillMD, 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 MediBillMD, 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! MediBillMD 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
MediBillMD’s free AR analysis reviews outstanding receivables to identify aging balances, unpaid claims, denials, and potential recovery opportunities. The analysis helps practices understand the current condition of their AR and determine which accounts may warrant further recovery efforts.
Yes, our AR recovery team can manage older, unresolved, or complex accounts. Conversely, the internal billing team can continue to handle routine medical billing. This way, you have an additional recovery capacity, helping reduce AR backlogs.
Outsourcing AR recovery helps practices manage unpaid claims, denials, underpayments, and patient balances while controlling the internal billing staff’s workload. By outsourcing, A dedicated team addresses claim issues, follows up on outstanding accounts, and pursues eligible payments. This helps control aging AR and improve the practice’s cash flow.
Practices with frequent denials, growing AR, limited billing resources, and high claim volumes benefit from AR recovery services. Additionally, outsourcing provides necessary support for EMR migrations or staffing shortages. This is highly recommended if billing teams face backlogs with a limited capacity to follow up on older accounts.
No account has a fixed recovery duration. Generally speaking, claims in the 30 to 60-day range are simpler to resolve. Conversely, if an account is aged to 120 days or more, it requires additional research, payer follow-up, documentation, or appeals. Therefore, the recovery time may vary according ot the payer, account history, claim status, and reason for nonpayment.
Consider the provider’s healthcare billing experience, payer knowledge, HIPAA compliance, and understanding of timely filing requirements. The provider should also be able to identify the underlying causes of aging AR, not simply perform routine follow-ups.
You should consider outsourcing when AR continues to age, internal staff cannot maintain timely follow-up, or older accounts are receiving insufficient attention. Outsourcing can also provide additional support during staffing shortages, periods of high claim volume, or EMR migrations that create AR backlogs.
AR cleanup focuses on correcting issues that prevent an account from being paid, such as billing errors, denials, and payment posting problems. AR recovery focuses on pursuing the outstanding balance through payer follow-up, appeals, corrected claims, or patient outreach. Both processes may be necessary to resolve older AR effectively.
AR recovery services can help reduce avoidable write-offs by addressing outstanding accounts before they become too difficult to collect. Timely denial resolution, claim corrections, payer follow-up, appeals, and patient balance outreach can improve the likelihood of collecting eligible balances.
AR recovery success depends on recovered revenue, reductions in aging AR, denial resolution, high resolution rates, and 90- and 120-plus-day balance changes. Tracking these measures determines whether recovery efforts are improving collections and reducing outstanding receivables.
Yes. Patient AR recovery may include sending statements and following up on outstanding patient balances. A dedicated recovery team such as MediBillMD manages activity consistently, pursuing eligible patient payments. They help with reducing administrative workload for internal billing staff.
Denial management focuses specifically on identifying, preventing, and resolving denied claims. AR recovery involves a broader scope including denied claims, delayed payer payments, unpaid claims, underpayments, and patient balances. Denial management is one step within the AR recovery process.
