Dedicated Psychiatry Accounts Receivable Services

Trustworthy AR Solutions for Psychiatry Practices

Are you encountering difficulties with account receivable for psychiatry that are outstanding for 60, 90, or even 120 days? Address these enduring and unresolved AR issues successfully. We provide a cutting-edge solution that blends sophisticated AI technology with specialized staff proficiency, specifically designed for the distinct needs of psychiatry health practices.

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Enhanced Capabilities: Setting Apart Our Psychiatry Accounts Receivable Services

Targeted Expertise Boasting more than 8 years of focused experience, our team specializes in account receivable for psychiatry.

Advanced AI Implementation Our use of premier AI technology streamlines and refines AR tasks, significantly reducing manual efforts.

Strategic Benchmarking We offer timely alerts for psychiatry accounts receivable that surpass established performance thresholds.

Superior Claim Resolution Achievement Our skilled team consistently secures an impressive 98% recovery rate on all outstanding psychiatry accounts receivable within just a few weeks.

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Manage your AR cycle efficiently with AR Analyser. It is powerful and scalable



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Distinctive Difficulties in Managing Account Receivable for Psychiatry

Account Receivable for Psychiatry often face delays due to less-than-ideal communication between insurers and healthcare practitioners. Common challenges in Psychiatry AR management include:

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Incorrect billing practices for the level of psychotherapies.

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Difficulty in substantiating the medical necessity for certain procedures

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Issues related to provider credentialing processes

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Mistakes in identifying service locations and types of facilities

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Shortage of knowledgeable AR personnel

Such issues can result in missed communications from payers and insufficient engagement with insurance companies, leading to unresolved AR claims for periods extending beyond 30 days.

Our expert support is tailored to effectively tackle these complex Psychiatry AR challenges.

Maximizing Revenue with Top-Tier Psychiatry Account Receivable Services

Unaddressed AR claims can lead to substantial monthly revenue losses, potentially around $10,000, for psychiatry health practices. Our expert AR team is committed to reclaiming these funds with unparalleled effectiveness.

  • Utilize our skilled AR professionals to oversee aging AR.
  • Get detailed daily, weekly, and monthly updates from our elite AR managers.
  • Our psychiatry AR services are flexible and can be tailored to suit your specific needs.
  • Focused on minimizing your 60, 90, and 120+ day AR while improving collection efficiency.
  • Experience personalized support for your Psychiatry AR issues.

Clarifying a Common Myth: Electronic Health Records (EHRs) might seem financially efficient, often charging as low as 2% of collections, but they can overlook crucial AR operations such as eligibility verifications and precise coding. Recognizing that their functionality extends beyond mere claim submission is essential!

In Search of Definitive Results? Our goal is to turn pledges into real, measurable outcomes.

Implementing MGMA Benchmarks and KPIs for Proficient Psychiatry Account Receivable Services

Our method integrates over 7 Key Performance Indicators (KPIs) within an extensive 15 KPI framework, meticulously evaluating Revenue Cycle Management (RCM) elements, focusing particularly on psychiatry Account Receivable Services.

Criteria for Evaluating A/R Days:

35 or fewer A/R days = Good or High performance

35-50 A/R days = Average Performance

“Recognizing the effects of filing delays is critical as they can obstruct the resolution of pending AR. Accounts that exceed 90 or 120+ days in AR significantly lower the chances of successful claim reimbursement.”

Essential Metrics Include:

A/R Days

Tracks the average duration for settling Accounts Receivables. Typically, an average exceeding 50 days indicates below-standard performance.

First Pass Resolution Rate (FPRR)

Assesses the efficiency in settling claims on their first submission.

Gross Collection Rate (GCR)

Monitors the ratio of total billed amounts successfully collected.

Net Collection Rate (NCR)

Focuses on the percentage of revenue that is collectible and collected.

Percentage of A/R Over 60 Days

Reviews the share of Accounts Receivables remaining unpaid for more than 60 days.

Collections per Visit

Determines the average revenue earned per patient appointment.

Contractual Variance

Evaluate the disparity between contracted payment amounts and actual payments received.

CleAR - Transforming AR Management Through AI-Powered Automation

CleAR is innovating in the realm of Accounts Receivable management, converting uncertainty into streamlined efficiency. Our advanced AI-driven solution enhances your collection strategies and reduces operational costs.

  • AI-Driven AR Data Analysis and Segmentation - Employs AI to rapidly pinpoint high-risk receivables.
  • AI Voice Assistant - Seamlessly navigates through insurance/payer automated systems for quicker access to human representatives.
  • In-Depth Reporting Capabilities: - Provides extensive reports such as Aged Trial Balance (ATB), Open Balance Report (OBR), and Denial Analysis.
  • Enhanced Data Security: - Safeguards your AR management information with sophisticated, layered security protocols.
  • Team Enhancement - Boosts data understanding and availability, encouraging improved cooperation across different departments
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Enhance Team Efficiency with Advanced Voice AI Solutions

Our Voice AI technology streamlines telephone communications, freeing up your team to concentrate on essential tasks. Say farewell to extended waiting periods and the complexities of navigating through various health plans and payer telephone systems

Comprehensive training programs by Billing Paradise, equipping staff with the skills and knowledge for efficient healthcare billing

Advancing Patient Engagement with Specialized Psychiatry Account Receivable Services

Combine the warmth of human empathy with the precision of AI by integrating our dedicated psychiatry accounts receivable services with AI technology. This approach enhances patient involvement in their psychiatry care management and reduces the stress associated with long waiting times.

  • Streamlined Patient Services: - Our patient-focused AR team simplifies interactions and collections.
  • Enhanced Financial Interactions: -AI-driven patient follow-ups and support improve the overall financial experience.
  • Automated Patient Statements - Provide comprehensive statements with built-in collection features.
  • Personalized Payment Plan Assistance: - Assists patients in choosing payment plans suited to their financial situation.

Revolutionizing Patient Payment Collection with Automation

Modernize your patient payment collection process with our automated system, boosting transparency and aiding in decision-making. Achieve this through seamless EHR integration, which automates the payment collection.

  • Enhanced Efficiency - Streamlines payment processes, saving time and resources.
  • Cost-Effective Management - Enables resource reallocation to more critical areas through our automated system.
  • Advanced Data Security: - Ensures the safety of patient data with sophisticated electronic protection.
  • Timely Payment Motivation: - Sends customized reminders to encourage prompt payments.
  • Clarity in Communication - Makes payment information straightforward, lessening patient confusion and reducing repeated contact.

Our Automated AI bots manage these routine tasks, interacting with patients at a comfortable and appropriate pace.

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Comprehensive training programs by Billing Paradise, equipping staff with the skills and knowledge for efficient healthcare billing

Minimizing Aged AR Accumulation Due to Patient Demographic Errors

It's estimated that 35% of all delays or rejections in aged or longstanding AR are due to inaccuracies in patient data and insurance eligibility.

Address these preventable issues with our sophisticated patient insurance card reader and AI-driven verification technology. Capable of scanning insurance cards across more than 20,000 plan types and over 4,000 national carriers, it verifies patient health insurance in just 5 seconds.

Features and Benefits

AI-Enhanced Insurance Card and ID Scanning

Improves image quality for accurate Optical Character Recognition (OCR), precisely capturing details from insurance cards and IDs, including eSignatures.

Rapid Insurance Verification:

Quickly confirms patient copayments, plan limits, and eligibility, ensuring speedy and accurate insurance coverage checks.

Tailored Intake Procedures:

Customizable forms and automated workflows enhance the process of benefit verifications and authorizations, minimizing the risk of errors and duplications.

Enhanced Patient and Provider Experience:

Streamlines the check-in process, clarifies financial responsibilities, and efficiently manages copayments and unpaid balances.

Increased Staff Efficiency:

Reduces manual data entry and errors, leading to more efficient administrative operations and higher staff satisfaction

Results that will make you woah!

51%

Reduction in Manual Work Hours

70%

Increase in Collections

98%

Decrease in AR

80%

Increase in Productivity

60%

Reduction in Bad Debts Write Off

Experienced Over 30+ EHRs, EMRs and PMS

We Adapt to your EHR as Migrating Data can be a Tedious Task

Get paid Three times faster with our 24/7 medical billing services.

Work with medical billers who understand your EHR's billing process backwards and forwards

Avail Free RCM Audit Worth $2,000! Check out 19 different KPI reports that stops your cash flow.