{"id":1475,"date":"2014-02-04T13:22:55","date_gmt":"2014-02-04T13:22:55","guid":{"rendered":"https:\/\/www.billingparadise.com\/blog\/?p=1475"},"modified":"2026-03-11T07:15:56","modified_gmt":"2026-03-11T12:15:56","slug":"medical-accounts-receivable-management-strategies-2014","status":"publish","type":"post","link":"https:\/\/www.billingparadise.com\/blog\/medical-accounts-receivable-management-strategies-2014\/","title":{"rendered":"Accounts Receivable Management Strategies for Medical practices in 2026"},"content":{"rendered":"<section  class=\"section no\"><div class=\"row\"><div class=\"wpb_column col-md-12 have-padding\"><div class=\"text-block \" ><div class=\"simple-text \"><h2 style=\"text-align: justify\"><span style=\"color: #ff6600\"><b>Looking for maximized collections ?<\/b><\/span><\/h2>\n<p style=\"text-align: justify\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 According to a recent survey by MGMA, most <strong>medical practices are going unpaid for 25% of the services<\/strong> they render to the patients.<\/p>\n<p style=\"text-align: justify\">If your medical practice is experiencing such hiccups, this is the \u201cmust read\u201d blog for you.<\/p>\n<h2 style=\"text-align: justify\"><span style=\"color: #ff6600\"><b>From the Bottom\u2026<\/b><\/span><\/h2>\n<p style=\"text-align: justify\">Though Accounts Receivable (AR) is not a new term for you, I\u2019ll start this blogging from the scratch. AR signifies <i>legally<\/i> imposable claim for payment to your practice by the patients or insurance payers for the services delivered by you to your patients. Despite this generalization, AR management strategies must be payer-specific (for reimbursements) and patient-specific (for co-pays, deductibles, etc.).<\/p>\n<h2 style=\"text-align: justify\"><span style=\"color: #ff6600\"><b>The Stats Signal<\/b><\/span><\/h2>\n<p style=\"text-align: justify\">It\u2019s the time to wake-up ! The American medical practices are under the juncture of transformation from just billing for the rendered services to billing and dogged collections management.<\/p>\n<ul style=\"text-align: justify\">\n<li><strong>According to report furnished by the Centers for Medicare and Medicaid Services (CMS), only 70% of the medical claims are reimbursed the first time on submission.<\/strong><\/li>\n<\/ul>\n<ul style=\"text-align: justify\">\n<li><strong>Rest of the claims (30%) is either denied (20%) or misplaced or unnoticed (10%).<\/strong><\/li>\n<\/ul>\n<ul style=\"text-align: justify\">\n<li><strong>18 out of 30 claims are not resubmitted to the insurance payers making a voluminous loss for the practices.<\/strong><\/li>\n<\/ul>\n<h2 style=\"text-align: justify\"><span style=\"color: #ff6600\"><b>The Best AR Management Practice<\/b><\/span><\/h2>\n<p>Here is the Presentation on the state of the art collection strategies<\/p>\n<div style=\"margin-bottom: 5px\"><strong> <a title=\"Best maneuvers to manage your medical practice collections\" href=\"https:\/\/www.slideshare.net\/billingparadise\/best-maneuverstomanageyourmedicalpracticecollections\" target=\"_blank\" rel=\"nofollow noopener\">Best maneuvers to manage your medical practice collections<\/a> <\/strong> from <strong><a href=\"http:\/\/www.slideshare.net\/billingparadise\" target=\"_blank\" rel=\"nofollow noopener\">Billingparadise<\/a><\/strong><\/div>\n<p style=\"text-align: justify\"><strong><span style=\"color: #993300\">Streamlined automation<\/span><\/strong><\/p>\n<p style=\"text-align: justify\"><span style=\"text-align: justify\">\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 Streamlined automation\u00a0of your <\/span><a title=\"RCM Experts\" href=\"https:\/\/www.billingparadise.com\/revenue-cycle-management\/\"><span style=\"text-align: justify\">revenue cycle management<\/span><span style=\"text-align: justify\"> (RCM)<\/span><\/a><span style=\"text-align: justify\"> is a crucial mode to recoup your ARs.<\/span><\/p>\n<p style=\"text-align: justify\"><strong><span style=\"color: #993300\">Thwart potential denials<\/span><\/strong><\/p>\n<p style=\"text-align: justify\">\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 Thwart potential denials\u00a0well before the claims submission, so that your claims will be reimbursed right at the first time.<\/p>\n<p><strong><span style=\"color: #993300\">Intelligent engine:<\/span><\/strong><\/p>\n<ul style=\"text-align: justify\">You could install the feasible software in need at your practice for improving your denial prevention rates and maximize the collections. Besides, business intelligence and analytics tools enable you make better decisions, perk-up productivity and catch underpayments and curtail collection delays.<\/ul>\n<p><strong><span style=\"color: #993300\">First-pass resolution rate:<\/span><\/strong><\/p>\n<ul style=\"text-align: justify\">Improve the scrutiny of your medical bills through software and expert support before submission to accomplish higher first-pass claim resolution rate. This would drastically mitigate the workload of your practice staff and enhance your claim acceptance and further collection rate.<\/ul>\n<p><strong><span style=\"color: #993300\">Contract negotiation and management:<\/span><\/strong><\/p>\n<ul style=\"text-align: justify\">Many practices fail to verify the difference between actual payment and the payer\u2019s contract value. Automated reconciliation of these values aids increased reimbursement and better budget forecasting.<\/ul>\n<p><strong><span style=\"color: #993300\">AR Aging:<\/span><\/strong><\/p>\n<ul style=\"text-align: justify\">30\/60\/90 days aging report model is becoming outmoded. If Medicare is ready to pay you within 14 days and if you follow the payment after 30 days, that\u2019s a clear loss for you. Thus, daily AR aging report and follow-up is very essential for faster collections and improved productivity.<\/ul>\n<p><strong><span style=\"color: #993300\">Workflow optimization:<\/span><\/strong><\/p>\n<ul style=\"text-align: justify\">If there is a barricade in your collection process, the gap between the time of service and the time of collection would be prolonged which culminates in loss. To overcome this glitch, automated e-mails to the management or superior authority and instantaneous remedial action can be yield better results.<\/ul>\n<p><strong><span style=\"color: #993300\">ERA accuracy:<\/span><\/strong><\/p>\n<ul style=\"text-align: justify\">Cross-examine the ERAs against payer contracts for the accuracy of payment details.<\/ul>\n<p><strong><span style=\"color: #993300\">Special routing and tracking:<\/span><\/strong><\/p>\n<ul style=\"text-align: justify\">Payer-specific collection experts and queue-based collection assignments can be set in an organized manner to follow claims, denials and payments.<\/ul>\n<\/div><\/div><\/div><\/div><\/section>\n","protected":false},"excerpt":{"rendered":"Looking for maximized collections ? \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 According to a recent survey by MGMA, most medical practices are going unpaid for 25% of the services they render to the patients. If your medical practice is experiencing such hiccups, this is the \u201cmust read\u201d blog for you. From the Bottom\u2026 Though Accounts Receivable (AR) is not a [...]","protected":false},"author":2,"featured_media":1476,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[744],"tags":[],"class_list":["post-1475","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-rcm"],"modified_by":"kiruthika","_links":{"self":[{"href":"https:\/\/www.billingparadise.com\/blog\/wp-json\/wp\/v2\/posts\/1475","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.billingparadise.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.billingparadise.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.billingparadise.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.billingparadise.com\/blog\/wp-json\/wp\/v2\/comments?post=1475"}],"version-history":[{"count":4,"href":"https:\/\/www.billingparadise.com\/blog\/wp-json\/wp\/v2\/posts\/1475\/revisions"}],"predecessor-version":[{"id":450371,"href":"https:\/\/www.billingparadise.com\/blog\/wp-json\/wp\/v2\/posts\/1475\/revisions\/450371"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.billingparadise.com\/blog\/wp-json\/wp\/v2\/media\/1476"}],"wp:attachment":[{"href":"https:\/\/www.billingparadise.com\/blog\/wp-json\/wp\/v2\/media?parent=1475"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.billingparadise.com\/blog\/wp-json\/wp\/v2\/categories?post=1475"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.billingparadise.com\/blog\/wp-json\/wp\/v2\/tags?post=1475"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}